USDA REDLG Program considers additional selection factors for grants to Minnesota cooperatives

The USDA Rural Economic Development Loan & Grant (REDLG) Program offers grants in Minnesota for electric cooperatives seeking to promote rural economic development and create jobs. Each USDA grant application needs to be for a project that will qualify for a 0% interest loan and meet specific selection factors to be considered for funding:

• Nature of the project
• Job creation projections
• Long-term improvements in economic development
• Diversifying the rural economy or alleviating underemployment
• Projected changes in population as a result of the project
• Number of long-term jobs
• Plan for improving the marketable skills of people in rural areas

Energy cooperatives have access to grants in Minnesota through USDA grants

Electric cooperative utilities can access a maximum USDA grant of $300,00 with a 20% match from the cooperative. The grant and matching funds are passed on as a 0% interest loan to a qualifying project. When the initial loan is repaid, the grant funds are retained in a revolving loan fund administered by the co-op for business financing and ongoing economic development support. Contact the Great River Energy economic development team to determine if your project qualifies: Tom Lambrecht, Erin Sparks or Jeff Borling.