USDA considers key selection factors to determine eligibility for grants In Minnesota

The USDA Rural Economic Development Loan & Grant Program has specialized financing available in Minnesota for past and present rural utility service borrowers, specifically electric cooperatives, to promote rural economic development and create jobs through grants in Minnesota. USDA provides grants to Minnesota cooperatives which use the funding to provide 0% interest loans and establish revolving loan funds. Loans are made from the revolving loan fund to projects that will create or retain rural jobs. For a cooperative to meet the criteria for receiving a grant, the project the co-op intends to support will be evaluated on the following factors:

• Rural project location
• Demonstration project planned
• Probability of success
• Who owns and manages the project
• Project business plan
• Completeness of the application 

USDA grants in Minnesota available for electric cooperatives 

Any Minnesota electric cooperative utility that is a current or past borrower through the USDA Rural Utility Service can access a maximum grant of $300,00 with a 20% match from the cooperative. Contact the Great River Energy Economic Development team to determine if your project qualifies: Tom Lambrecht, Erin Sparks or Jeff Borling.