USDA Grants for Businesses in Minnesota & How to Apply

USDA Grants for Businesses in Minnesota & How to Apply Main Photo

10 Jan 2023


News

Many of Great River Energy’s member-owner cooperatives support USDA grants for eligible community development projects in Minnesota and can help entrepreneurs and expanding business access new sources of funding. The USDA has several programs to help businesses create jobs and grow rural economies. This particular program, the USDA Rural Economic Development Loan & Grant Program, has several distinct benefits, including:

  • Up to 80% of the project can be financed
  • Up to $300,000 can be given as a grant to a participating cooperative
  • Cooperative must provide a 20% match, providing a loan of up to $360,000 for the project 
  • 0% interest rate
  • Funds can go towards construction, pay for equipment and other job growth activities

USDA Grants for Businesses in Minnesota & How to Apply

Great River Energy and our member-owner cooperatives can help you apply for the USDA Rural Economic Development Loan & Grant Program. Our economic development team is here to help businesses grow and we are accustomed to working with this and other Federal and state-level (Minnesota) grant and loan programs. To receive help with your application, contact Tom Lambrecht, Erin Sparks, or Jeff Borling.