How do electric cooperatives apply for USDA Rural Economic Development loans

The application process for the USDA Rural Economic Development Loan program through Great River Energy member-owner cooperatives is straightforward. After meeting with your local cooperative and completing a pre-application form, a formal USDA application is prepared and submitted to the co-op board for approval. Approved applications are sent to the local USDA field representative, who forwards it to the USDA Rural Development National Office for selection on a nationally competitive basis. Applications are viewed quarterly, and if selected, Great River Energy and the local cooperative will help navigate the next steps and schedule a loan closing. 

Minnesota electric co-ops can apply for USDA business loans

Great River Energy offers services to help its member-owner cooperatives access USDA financing to promote rural economic development and create jobs. The USDA Rural Economic Development Loan and Grant (REDLG) Program offers pass-through loans for Minnesota businesses ranging from $10,000 to $2,000,000. 

Apply today for a USDA business loan here.