RURAL BUSINESS DEVELOPMENT GRANT

Program Purpose

A competitive grant designed to support targeted technical assistance, training and other activities leading to the development or expansion of small and emerging private businesses in rural areas that have fewer than 50 employees and less than $1 million in gross revenues. Can also support economic development plans that are limited to consideration of businesses.

Deadline to Apply

Deadline to Apply: Yearly cycle. FY2017 deadline: April 28.

Eligibility Description

Public entities, non-profit entities, and federally recognized Native American tribal groups. In New Mexico this would include subdivisions of the state such as acequias. Other public entities include towns, state agencies, authorities, institutions of higher education.

Special Conditions

Funds must be directed for projects benefitting rural area or towns outside the urbanized periphery of any city with a population of 50,000 or more.

Funding Availability

Funding Potential for Award–Approximately $200,000 for state allocation; there is a Native American set-aside through national competition

Range of Awards–Not set requirement. More points in scoring is application is under $100,000. State encourages smaller requests as funds are limited.

Funding Cycle – Duration–One year

Source of Funds–Funds originate from US Department of Agriculture and are obligated to the grantee; disbursement is on a reimbursement basis

Application Process

Deadline–FY 2017: Friday, April 28

How to Apply–Apply to Rural Development (see contact information below; location for application delivery can change from year to year, so contact RD to determine delivery location)

Selection Criteria & Decision Authority–Specific general criteria are available through USDA-RD, see contact below. When grant funds are used for revolving loan fund (RLF), the intermediary makes loans to businesses from its RLF on terms consistent with security offered.

Authorization

7 CFR 4280, subpart E