USDA Rural Business Development Grant Programs for Fiscal Year 2024
USDA is making this funding available under the Rural Business Development Grant program to support business opportunities or business enterprise projects in rural communities. Organizations eligible to receive funding include rural towns, communities, state agencies, authorities, nonprofits, federally recognized Tribes, public colleges and non-profit cooperatives.
Projects must be consistent with local community and economic development strategic plans. They must also support other economic development activities in the surrounding community.
Funds may be used to establish business support centers or to finance job training and leadership development in rural areas. They may also be used to repair or modernize buildings; finance feasibility studies or business plans; or purchase equipment to lease to small or emerging businesses.
In fiscal year 2024, USDA anticipates that part of the funding may be set aside for:
- Federally recognized Tribes.
- Rural Empowerment Zones/Enterprise Communities/Rural Economic Area Partnerships.
- Projects located in persistent poverty areas.
- Strategic Economic and Community Development (SECD) projects.
Eligible applicants for persistent poverty and SECD set-aside funds must demonstrate that 100% of the benefits of an approved grant will assist beneficiaries in the designated areas.
USDA is particularly interested in applications that will advance Biden-Harris Administration priorities to:
- Reduce climate pollution and increase resilience to the impacts of climate change through economic support to rural communities.
- Ensure all rural residents have equitable access to Rural Development (RD) programs and benefits from RD-funded projects.
- Help rural communities recover economically through more and better market opportunities and through improved infrastructure.
- Public Body/Government Entity
- Indian Tribes
- Nonprofit entity primarily serving rural areas
COST SHARING/MATCHING FUNDS:
There are no cost-sharing or matching requirements associated with this grant.
FUNDING AVAILABLE AND PRE-APPLICATION WINDOW:
ANTICIPATED FUNDING AVAILABLE: Dependent upon FY 2024 appropriations. Funding is anticipated to be approximately $37 million based on FY 2023 amounts.
AWARD AMOUNTS: No Minimum or Maximum.
APPLICATION DEADLINE: Complete applications may be submitted in paper or electronic format and must be received by 4:30 p.m. local time on February 28, 2024, in the United States Department of Agriculture (USDA) Rural Development (RD) State Office for the State where the project is located.