NORTH CAROLINA 

2010 ANNUAL REPORT
Barack Obama

President of the United States

Tom Vilsack

Secretary of Agriculture

Dallas Tonsager

Under Secretary

for Rural Development

Randall Gore

North Carolina State Director

Rural Development

Committed to Helping Improve the Economy 

and Quality of Life in Rural America

USDA is an equal opportunity lender, provider and employer.

To file a complaint of discrimination write USDA, Director, Office of Civil Rights,

1400 Independence Ave S. W. Washington, D. C. 20250-9410 or call 800-795-3272 TDD 615-783-1397.
C o m m i t t e d t o H e l p i n g I m p r o v e t h e E c o n o m y a n d Q u a l i t y o f L i f e i n R u r a l A m e r i c a

Looking Back on a Record Year . . . .

We finished FY 2010 with a bang!!! More than $2.2 

billion was invested in rural housing, rural businesses, utilities, and community programs across 

rural North Carolina. It required a lot of devotion and 

hard work from each employee.

As we look ahead, we will continue to forge partnerships for the good of 

the citizens of North Carolina in an effort to meet the many needs that 

exist across our state.

Randall Gore

North Carolina State Director

Rural Development
PROGRAM TOTAL

502 Single Family Housing Direct 

Loans

$86,278,056

502 Single Family Housing 

Guaranteed Loans

$941,161,964

504 Single Family Housing Loans 

and Grants

$3,274,245

Community Facility Direct Loans $261,353,586

Community Facility Guaranteed $1,990,000

Community Facility Grants $12,760,478

Water and Environmental Program 

Direct Loans

$165,781,000

Water and Environmental Program 

Grants

$74,852,217

Business & Industry Guaranteed 

Loans

$102,780,214

Rural Business Enterprise Grant $1,833,942

PROGRAM TOTAL

Rural Cooperative Development Grant $225,000

Intermediary Relending Program $2,416,480

Multi-Family Housing Guaranteed 

Loans

$2,300,000

Rental Assistance $60,478,704

Electric and Telecomm $394,208,201

Value Added Producer Grant $320,960

Renewable Energy Loans and 

Grants

$3,757,651

523 Self Help Housing $628,872

Rural Economic Development Loans 

& Grants

$740,000

Broadband Loans and Grants $149,435,590

TOTAL 2010 

INVESTMENT

$2,266,537,160

FY2010 INVESTMENT IN NORTH CAROLINA . . .

C o m m i t t e d t o H e l p i n g I m p r o v e t h e E c o n o m y a n d Q u a l i t y o f L i f e i n R u r a l A m e r i c a
HOUSING ....foundation for families and economic stability for the community

U S D A R u r a l D e v e l o p m e n t S i n g l e F a m i l y H o u s i n g P r o -

g r a m s p r o v i d e h o m e o w n e r s h i p o p p o r t u n i t i e s t o v e r y -

l o w , l o w a n d m o d e r a t e i n c o m e r u r a l A m e r i c a n s 

t h r o u g h l o a n , g r a n t a n d g u a r a n t e e p r o g r a m s . I n a d d i -

t i o n , f u n d i n g i s a v a i l a b l e t o i n d i v i d u a l s t o f i n a n c e 

n e c e s s a r y i m p r o v e m e n t s t o m a k e t h e i r h o m e s , d e -

c e n t , s a f e a n d s a n i t a r y . 

“U SD A Ru ral Devel opm ent f undin g mad e an en ormous diff ere nce 

in the lives of ru ral Am ericans in FY 2010 . F ro m helpin g t ens o f 

thousan ds o f fam ilies r epair or purc hase a ho me, to la rge - sc ale 

investmen ts t o dev elop broa dban d in fras truc tu re ac ross d ozens 

of cou nties , US DA R ur al D evelopm ent employ ees w ere help ing 

build b ett er l ives f or th e Ame rican peo ple. ” S e c r e t a r y V i l s a c k

U S D A R u r a l D e v e l o p m e n t M u l t i - F a m i l y H o u s i n g P r o g r a m s o f -

f e r R u r a l R e n t a l H o u s i n g L o a n s t o p r o v i d e a f f o r d a b l e m u l t i -

f a m i l y r e n t a l h o u s i n g f o r v e r y l o w , l o w a n d m o d e r a t e i n c o m e 

f a m i l i e s ; t h e e l d e r l y ; a n d p e r s o n s w i t h d i s a b i l i t i e s . R e n t a l 

a s s i s t a n c e i s a l s o a v a i l a b l e t o e l i g i b l e f a m i l i e s .

C o m m i t t e d t o H e l p i n g I m p r o v e t h e E c o n o m y a n d Q u a l i t y o f L i f e i n R u r a l A m e r i c a
BUSINESS .... encouraging GROWTH and JOB creation

“ O u r g o a l o f e n s u r i n g t h a t r u r a l a r e a s a r e c r e a t -

i n g w e a l t h , s e l f - s u s t a i n i n g , r e p o p u l a t i n g , a n d 

t h r i v i n g e c o n o m i c a l l y i s e s p e c i a l l y c r i t i c a l i n t h e 

a f t e r m a t h o f t h e e c o n o m i c d o w n t u r n . ” 

 Under Secretary Tonsage r

U S DA R u ra l De ve lo p -

men t Bu s ine ss a nd Co -

o p e r a t i v e P r o g r a m s 

h e lp c re a te job s and 

s timu la te ru ral e con o -

mie s th ro ug h loa ns , 

g ran ts an d loa n g ua ran te es . 

C o m m i t t e d t o H e l p i n g I m p r o v e t h e E c o n o m y a n d Q u a l i t y o f L i f e i n R u r a l A m e r i c a
COMMUNITY . . . . improving ESSENTIAL community services

U S D A R u r a l D e v e l o p m e n t C o m m u n i t y F a c i l i -

t i e s P r o g r a m s p r o v i d e f u n d i n g t h r o u g h l o a n s 

a n d g r a n t s f o r e s s e n t i a l c o m m u n i t y f a c i l i t i e s 

s u c h a s l i b r a r i e s , s c h o o l s , c h i l d c a r e , h o s p i -

t a l s , a s s i s t e d l i v i n g f a c i l i t i e s , p o l i c e , f i r e 

a n d r e s c u e , c o m m u n i t y c e n t e r s , f a r m e r s m a r -

k e t s a n d m u n i c i p a l c e n t e r s .

C o m m i t t e d t o H e l p i n g I m p r o v e t h e E c o n o m y a n d Q u a l i t y o f L i f e i n R u r a l A m e r i c a
UTILITIES . . . . water, wastewater, broadband INFRASTRUCTURE

U S D A R u r a l D e v e l o p m e n t U t i l i t i e s P r o g r a m s 

i m p r o v e t h e q u a l i t y o f l i f e f o r r u r a l N o r t h 

C a r o l i n i a n s b y p r o v i d i n g s a f e , r e l i a b l e w a t e r 

and 

w a s t e 

d i s p o s a l 

s y s t e m s , 

a t t h e 

s a m e 

t i m e 

p r o m o t -

i n g e c o -

n o m i c 

d e v e l o p m e n t a n d p r o t e c t i n g o u r n a t u r a l r e s o u r c e s . A s -

s i s t a n c e i s a v a i l a b l e f o r t h e c o n s t r u c t i o n , e x p a n s i o n , 

a n d r e p a i r o f r u r a l w a t e r a n d w a s t e w a t e r s y s t e m s . 

T h e B r o a d b a n d p r o g r a m i s a v a i l a b l e t o b r i n g h i g h s p e e d 

i n t e r n e t a c c e s s t o r u r a l a r e a s o f N o r t h C a r o l i n a .

C o m m i t t e d t o H e l p i n g I m p r o v e t h e E c o n o m y a n d Q u a l i t y o f L i f e i n R u r a l A m e r i c a
ENERGY . . . . building energy INDEPENDENCE

U S D A R u r a l D e v e l o p m e n t R u r a l E n e r g y f o r 

A m e r i c a P r o g r a m ( R E A P ) p r o v i d e s l o a n s f o r r e -

n e w a b l e e n e r g y a n d e n e r g y e ff i c i e n c y p r o j e c t s 

a n d g r a n t s f o r e n e r g y a u d i t s a n d r e n e w a b l e e n -

e r g y d e v e l o p m e n t a s s i s t a n c e .

“ W e a r e b u i l d i n g a f r a m e w o r k f o r a n e w r u r a l e c o n -

o m y b y e n s u r i n g a c c e s s t o i n n o v a t i v e t e c h n o l o g i e s , 

o p e n i n g n e w m a r k e t s f o r c r o p s , p r o m o t i n g p r o d u c -

t i o n o f r e n e w a b l e e n e r g y a n d b e t t e r u t i l i z i n g o u r 

n a t u r a l r e s o u r c e s . ”

 Secretary Vilsack 

C o m m i t t e d t o H e l p i n g I m p r o v e t h e E c o n o m y a n d Q u a l i t y o f L i f e i n R u r a l A m e r i c a
Rural Business (Selected Programs)

Program Objective Applicant Uses Population Loan/Grant Terms/Conditions

Business and

Industry Guarantee

Loans

Create jobs/stimulate rural 

economies by providing 

financial backing for rural

businesses.

Businesses. Real estate, buildings, 

equipment, supplies, working 

capital, and some debt 

refinancing.

All areas except 

cities over 50,000 

and their contiguous 

urbanized areas.

Loan guarantee. Lender and borrower negotiate terms. Up 

to 30 years for real estate, 15 years for 

machinery and equipment, and 7 years 

for working capital.

Rural Business

Enterprise Grants

Finance and facilitate the

development of small and

emerging private business

enterprises.

Public bodies, private nonprofit corporations, and

tribes.

Refinancing, land acquisition, 

revolving funds, construction, 

equipment, access streets and 

roads, utility and service

extensions, and rural distance

learning networks.

All areas except 

cities over 50,000 

and their contiguous 

urbanized areas.

Grant. Amount based on funding availability, 

funding priority, and national goals.

Intermediary

Relending Program

Loans (IRP)

Establish revolving funds 

for business facilities and 

community development 

projects

Public bodies, non-profit

corporations, Native 

American tribes, and

cooperatives.

Community development

projects, establishment or

expansion of businesses,

creation or saving of rural jobs.

Rural areas and

incorporated places

with populations of

less than 25,000.

Direct loan. The intermediary makes loans to

businesses from its revolving loan fund 

on terms consistent with security offered. 

Intermediary pays 1 percent for 30 years.

Rural 

Microentrepreneur 

Assistance Program

(RMAP)

Establish revolving funds 

to target assistance to small 

rural enterprises.

Microenterprise

Development 

Organizations (MDO)

Loans, technical, and capacity 

building assistance to businesses 

with 10 or fewer employees and 

sole propriertorships.

All areas except 

cities over 50,000 

and their contiguous 

urbanized areas.

Loans, grants. Rural microenterprises apply directly to 

the intermediary.

Rural Economic

Development Loans

and Grants

(REDLG)

Finance economic

development and job

creation in rural areas.

Rural Utilities Servicefinanced electric and 

telephone utilities. 

Business startups or expansion

projects that create rural jobs.

Rural areas with 

priority to places 

with populations of

2,500 or less.

Direct loan and

revolving loan 

fund grant.

Intermediary makes loans to profit or 

non-profit business and public bodies. 

Loans are 0 percent for 10 years.

Rural Cooperative

Development Grants

Establish/operate centers for 

cooperative development

Non-profits and institutions 

of higher education. 

Establish operating centers for

development of rural cooperatives.

All areas. Grant. Minimum 25 percent fund match. Grants 

competitively awarded.

Value-Added

Agricultural Product

Market Development

Grant Program

Assist independent

agricultural producers to

enter into activities that

add value to their crops.

Independent producers, 

farmer and rancher

cooperatives, producer 

groups, majority-controlled

producer-based business

ventures.

Feasibility studies,

business plans; working capital

All areas. Grant Grants are awarded on a competitive 

basis. Funds cannot be used to build 

facilities or purchase equipment. Funds 

must be matched on a dollar-for dollar 

basis.

Rural Business

Opportunity Grant

Finance technical

assistance for business

development planning in

rural areas.

Public bodies, non-profit 

corporations, Indian 

tribes on Federal or State 

reservations, cooperatives 

with members that are 

primarily rural residents.

Technical assistance, leadership

training, establishment of

business support centers, 

economic development plans.

All areas except 

cities over 50,000 

and their contiguous 

urbanized areas.

Grant Must be completed within 2 years after 

project has begun.

Rural Energy for 

America (REAP)

Finance the purchase of

renewable energy systems,

and make energy

improvements; energy audits.

Feasibility studies/regular 

REAPs: agricultural 

producers and rural small 

businesses.Energy audits 

and renewable energy 

development assistance: local 

governments, tribes, land 

grant colleges, rural electric 

coops, public power entities.

Construction or improvements,

purchase and installation of

equipment, energy audits, permit

fees, professional service fees,

business plans, feasibility

studies.

All areas except 

cities over 50,000

and their contiguous 

urbanized areas.

Guaranteed loans

and grants. 

Funding is awarded on a competitive 

basis; grant funding cannot exceed 25% 

of eligible project costs and combined 

loan guarantees and grants cannot exceed 

75% of eligible project costs.

Direct Loans and Grants: Apply to Rural Development. Loan Guarantees: Apply to intermediary (eligible banks, etc.)

Revolving Funds (RMAP, IRP, REDLG): Intermediaries apply to Rural Development; others apply to intermediary
Rural Housing (Selected Programs)

Program Objective Applicant Uses Population Loan/Grant Terms/Conditions

Single Family 

Home Ownership 

Direct Loans

Safe, well-built, affordable 

homes for rural Americans.

Families and individuals. Buy, build, improve, repair, or 

rehabilitate rural home as the 

applicant’s permanent residence.

Rural areas with 

populations of 10,000 

or less and, under 

certain conditions, 

towns and cities 

between 10,000 and 

20,000 population. 

Direct loan. Up to 100% of market value or 

cost. Loan term of 33/38 years. 

Applicant may be eligible for 

payment assistance (subsidy) on the 

loan.

Single Family 

Home Ownership 

Direct Repair Loans 

and Grant

To help very-low-income 

applicants remove health 

and safety hazards or 

repair their homes.

Families and individuals 

who currently own their 

home. 

Repair/replace roof, winterizing,

purchase or repair of heating

system, structural repair,

water/sewage connect fees, etc.

Same as above. Direct loan and 

grant.

Loans up to $20,000 up to 20 years 

at 1 percent.Grants available to 

very-low-income

applicants 62 years or older unable 

to pay 1 percent loan.

Single Family 

Home Ownership 

Guaranteed Loans

To assist moderate income

applicants(s)/household(s)

in buying their homes by

guaranteeing loans made

by private lenders.

Families and individuals. Purchase new or existing home

and refinance existing Rural 

Development guaranteed loan. 

Same as above. Loan guarantee. 30-year, fixed rate. Interest rate is 

negotiated between lender and 

borrower. Loans up to 100 percent 

of market value plus the amount of 

the guarantee fee being financed.

Mutual Self-Help

Home Ownership

Loans

Individual homes built by

a group of applicants, with

construction guidance of a

non-profit organization.

Families and individuals.

Individual applications

for each participating 

individual/family.

Construction of a new home, in

part, by the applicant under

supervision.

Same as above. Direct loan. Individuals/families receive a direct 

loan from Rural Development. 

Participating nonprofit housing 

organization receive grants for 

project supervision.

Mutual Self-Help

Housing Grants

Assist lower income

families in building their

own homes.

Non-profits and public 

bodies.

Technical assistance to assist 

small groups offamilies to build 

each other’s

homes.

Same as above. Grant. Grant agreement.

Rental Housing for

Families and Elderly

Direct Loans and

Loan Guarantees

Safe, well-built, affordable

rental housing for verylow-income individuals

and families.

Individuals, trusts, 

associations, limited 

partnerships, for-profit 

and non-profit entities, 

tribes, public bodies.

New construction or substantial

rehabilitation of rental housing.

Same as above. Direct loan or

loan guarantee.

Up to 100 percent of total development 

cost (non-profits); 97 percent (for-profits); 

95 percent (for-profits with Low-Income 

Housing Tax Credits). 30-year term with 

up to 50 year amortization. 

Housing

Preservation Grants

Repair and rehabilitate

housing owned or

occupied by very-low- and

low-income rural families.

Public bodies and non-profit 

organizations.

Operation of a program which

finances repair and rehabilitation

activities for single family and

small rental properties.

Same as above. Grant. Grant agreement.

Community Facilities

Programs

Improve, develop, or 

finance essential

community facilities for

rural communities.

Public bodies, non-profit

organizations, and Indian

tribes.

Build or improve essential 

community facilities to include 

public safety, fire and rescue,

telecommunications, schools,

libraries, hospitals, other 

healthcare facilities, etc.

City, town, or 

unincorporated area 

of not more than 

20,000 population. 

Facilities must 

primarily serve rural 

areas.

Direct loan or

loan guarantee, 

grant.

Up to 100 percent of market value. 

Term for useful life of the facility 

or equipment, the state statute, or 

40 years. Maximum grant 75 

percent of project cost. Grant 

eligibility based on income, 

population, and need.

Farm Labor 

Housing

Safe, well-built affordable

rental housing for farm

workers.

Individuals, public and 

private non-profit 

organizations.

New construction or substantial

rehabilitation of rental housing.

N/A Direct loan and 

grant.

Up to 102 percent of total 

development cost. Up to 33 years 

to repay at 1 percent interest.

Direct Loans and Grants: Apply to Rural Development. Loan Guarantees: Apply to intermediary (approved banks, mortgage companies.)
Rural Utilities (Selected Programs)

Program Objective Applicant Uses Population Loan/Grant Terms/Conditions

Water and Waste

Disposal Loans and

Grants

Fund facilities in rural 

areas.

Public entities, Indian tribes,

and non-profit corporations.

Build, repair, and improve

public water, waste collection 

and treatment systems.

Rural areas, and towns 

with up to 10,000 

population.

Direct loan 

and grant. 

Repayment period is a 

maximum of 40 years. Grant 

funds may be available.

Water and Waste

Disposal Loan

Guarantees

Fund facilities in rural 

areas.

Public entities, Indian tribes,

and non-profit corporations.

Construct, repair, improve water 

supply and distribution and

waste collection and treatment

systems. 

Rural areas, and towns 

with up to 10,000 

population.

Loan 

guarantee. 

Eligible lenders obtain up to 

a 90 percent guarantee on 

loans they make and service. 

Technical Assistance

and Training (TAT) 

Grants

Provide technical 

assistance and training

Public, private, and nonprofit organizationsTechnical assistance and training 

for management of water and 

waste projects.

Rural areas and towns 

with up to 10,000 

population.

Grant

Rural Broadband 

Loan and Loan 

Guarantee

Deploy broadband 

service to rural 

communities.

Entities seeking to provide 

broadband services in rural

areas. 

Individuals/partnerships not 

eligible.

Finance the construction, 

improvement, and acquisition of 

facilities and equipment to 

provide broadband service in 

eligible rural communities; 

refinance Telecommunications 

Program debt.

Areas not located within:

(1) a city, town, or 

incorporated area over 

20,000 inhabitants; or 

(2) an urbanized area 

contiguous to a city or 

town of over 50,000 

inhabitants. 

Direct loans 

and loan 

guarantees.

Loans are made at the 

Treasury rate; loan term is 

the expected composite 

economic life of the assets 

financed; guarantees cannot 

exceed 80 % of the project 

amount. 

Electric and

Telecommunications 

Programs

Assist rural 

communities with

affordable, reliable

electric and

telecommunications

services.

Non-profit and cooperative

associations, public bodies, 

and other utilities. 

Electric generation, transmission, 

and distribution facilities,

including alternative, renewable, 

conservation and energy 

efficiency programs. Enhanced

911 emergency service, digital

switching equipment, fiber optic

cable, and traditional main 

system telecommunications

service.

Electric: areas served by 

an existing rural electric 

borrower, or rural areas 

other than a city or town 

of more than 20,000.

Telecommunications:

areas not located within 

cities with population over 

5,000

Direct loan or 

loan guarantee.

Interest rates are established 

in

accordance with 7CFR 

17145.

Distance Learning

and Telemedicine

Deployment of 

advanced

telecommunication

services in rural areas to 

improve education and 

health care.

Incorporated entities, 

including municipalities, forprofit, and not-for- profit

corporations, rural libraries, 

educational or health care 

facilities.

To provide end-user equipment 

and programming that delivers 

distance learning and 

telemedicine services into 

eligible areas.

Rural areas outside 

incorporated or 

unincorporated cities with 

population over 20,000.

Direct loan 

and/or Grant. 

Matching funds are required.

Community Connect Provide public access to 

broadband in otherwise 

unserved communities.

Public bodies, tribes, 

cooperatives, nonprofits, 

limited dividend or mutual 

associations, corporations and

other legally organized 

entities.

To build broadband 

infrastructure and establish a 

community center which offers 

free public access to broadband 

for two years. 

A single community 

outside incorporated or 

unincorporated cities with 

population over 20,000 

which does not have 

broadband

Grant Min $50,000; Max 

$1,000,000. Amounts are 

published in NOFAs and 

may vary

High energy Cost 

Grants

Funding for energy 

facilities in areas with 

high energy costs.

Individuals, businesses, 

governments, and Indian 

Tribes & Tribal entities.

Energy facilities. Areas with avg. 

residential energy cost

275% of national 

average.

Grant Minimum Per Grant $75,000; 

Maximum Per Grant $5 

Million. Admin costs may 

not exceed 4%.

Telecommunication and Electric Programs: contact USDA RUS Administrator All others, contact Rural Development State or local office

C o m m i t t e d t o H e l p i n g I m p r o v e t h e E c o n o m y a n d Q u a l i t y o f L i f e i n R u r a l A m e r i c a

United States of Agriculture

Rural Development

4405 Bland Road, Suite 260

Raleigh, NC 27609

www.rurdev.usda.gov