207 282-1748

USDA / Rural Development

Rural Development Loan Fund:  targets non-agricultural businesses and industry that located in rural communities with loans of up to $150,000.

IRP funding may be used for a number of purposes but to be eligible, ultimate recipients must be located in a rural area. Under the IRP, a rural area is any area that is not inside a city with a population of 25,000 or more according to the latest decennial census. Some examples of eligible projects are:

  • The acquisition, construction, conversion, enlargement, or repair of a business or business facility, particularly when jobs will be created or retained.
  • The purchase or development of land (easements, rights of way, buildings, facilities, leases, materials)
  • To purchase equipment, leasehold improvements, machinery, supplies
  • Start up costs and working capital
  • Pollution control and abatement
  • Transportation Services
  • Feasibility studies
  • Hotels, motels, B&Bs, convention centers

The EDC worked with us through every phase of this project to collaborate with bankers and get us the funding we needed to keep our development on schedule.

– Doug Sanford – Northdam Mill

The EDC has really helped our business stay on track.

– John Grondin – Prescott Metal