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U.S. Department of Agriculture - Rural Community Development Program | |
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Grant Details: Money from U.S. Department of Agriculture (USDA) can be used for just about anything, with the exception of salaries and benefits. So we can use this program for construction projects, vehicles, or equipment. The funding matrix is based upon the median household income (MHI) of an area, giving three levels of grant eligibility. Organizations can receive 35 percent, 5 percent, or 75 percent of their project in grants from USDA, and in areas of extreme economic distress it can be 100 percent. The nice thing about USDA is that an organization can get 100 percent of their money from USDA since their loan program is practically unlimited so you can do a combination grant/loan for a project. Loan rates are basically at prime rate and they'll amortize up to 40 years to make things as affordable as possible.
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