Revolving Fund Program

Background
The Rural Utilities Service (RUS or the Agency), a Rural Development (RD) mission area of the United States Department of Agriculture (USDA), announces the acceptance of applications under the Revolving Funds for Financing Water and Wastewater Projects (Revolving Fund Program or RFP) Grant Program for Fiscal Year (FY) 2024. These grant funds will be awarded to eligible applicants to create a revolving fund to finance predevelopment costs for water and wastewater projects, and for other purposes. Capital projects should consider energy efficiency, resiliency, and water reuse technologies.

Grant Details
The RFP Grant Program is designed to help qualified nonprofits create revolving loan funds that can provide financing to extend and improve water and wastewater disposal systems in rural areas. Grant recipients will set up a revolving loan fund to provide loans to finance predevelopment costs of water or wastewater projects, or short-term small capital projects not part of the regular operation and maintenance of current water and wastewater systems.

The total amount of loan financing to an eligible entity shall not exceed $200,000 or 75 percent of the project cost (whichever is less) and shall be repaid in a term not to exceed 10 years. The interest rate shall be determined by the grant recipient and approved by RUS. The total outstanding balance for all loans under this program to any one entity shall not exceed $200,000.

Eligibility Requirements
Eligible applicants must meet the eligibility requirements of 7 CFR 1783.5. Applicants must comply with the applicant contribution requirements outlined in 7 CFR 1783.9(b)(3). A 20 percent cost sharing or matching requirement is associated with this grant.

All submitted proposals must meet the intent outlined in 7 CFR 1783.1 and 1783.12, and be in conformance with 7 CFR 1783.13 and 1783, Subpart C.

Period of Performance
The performance period for this grant is from October 1, 2024, to September 30, 2025.

Grant Value
Anticipated available funds for FY 2024 are $1,000,000 through annual appropriations. There is no minimum or maximum award amount specified.

Place of Performance
No specific geographic location(s) for performance are provided.