The USDA Rural Development Community Facilities Direct Loan & Grant Program is designed to provide affordable funding options for a variety of essential community facilities. Here’s what you need to know about the program.
Public bodies, community-based nonprofit corporations, and federally recognized tribes.
WHAT IT’S FOR:
The Community Facilities Direct Loan & Grant Program provides affordable funding to develop essential community facilities in rural areas. Examples of essential community facilities include:
- Healthcare Facilities (hospitals/clinics/dental clinics/nursing homes/assisted living facilities)
- Public Facilities (town halls/courthouses/airport hangars/street improvements)
- Community Support Services (community centers/fairgrounds/child care)
- Public Safety (fire halls/police stations/prisons/police, fire, public works vehicles and equipment)
- Educational Services (museums/libraries/private schools)
- Utility Services (telemedicine/distance learning)
- Local Food Systems (community gardens/food pantries/greenhouses/community kitchens)
TYPE OF FUNDING:
Low interest loans, grants, or a combination. Grants may range from 15% to 75% of the project cost, depending upon location and the median household income of the community that will benefit from the project. Loan terms are typically lower than market interest rates for a maximum of 40 years. Interest rates are fixed for the entire term of the loan and there are no pre-payment penalties.
APPLICATION PROCESS AND DEADLINE:
Applications are accepted on a rolling basis throughout the year as long as funding remains available and there are no deadlines.
USDA CF website
Widseth Smith Nolting recently helped the City of Isle receive funding for their new Fire Station through the Community Facilities Direct Loan & Grant Program.
If you have a project that needs funding, contact one of Widseth Smith Nolting’s funding specialists today.