Other Eligibility Criteria:
Intermediaries may use funds to lend for projects in rural areas or towns with a population of fewer than 50,000 residents.
For Utility: Loans are available for up to 10 years at 0 percent interest. Grants require a 20 percent match from the local utility. Grants must be repaid to USDA upon termination of the Revolving Loan Fund.
For Ultimate Borrower: The interest rate is 0 percent. Up to 80 percent of project costs; 20 percent must be provided by the ultimate recipient or the local utility. The local utility may incorporate interest rates or administrative loan fees after the funds have been loaned out and revolved once. First-time loans are at 0 percent interest. Repayment may be deferred up to two years for projects including a start-up venture or Community Facilities project.