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[Federal Register Volume 89, Number 225 (Thursday, November 21, 2024)]
[Notices]
[Pages 92086-92087]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-27264]

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DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service

[Docket #: RBS-24-BUSINESS-0010]

Amended Notice of Solicitation of Applications for the Rural 
Economic Development Loan and Grant Programs for Fiscal Year 2025

AGENCY: Rural Business-Cooperative Service, USDA.

ACTION: Notice; lowering maximum loan amount.

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SUMMARY: The Rural Business-Cooperative Service (RBCS or Agency), a 
Rural Development (RD) agency of the United States Department of 
Agriculture (USDA), invited applications for loans and grants under the 
Rural Economic Development Loan and Grant Programs (REDLG or Programs) 
for fiscal year (FY) 2025, subject to the availability of funding on 
August 23, 2024. The Rural Business-Cooperative Service (RBCS or 
Agency) now announces that the maximum loan amount awarded for 
applications competing in the Second, Third, and Fourth Quarter funding 
cycles of fiscal year (FY) 2025 will be lowered to $1 million.

DATES: The following are the deadlines for FY 2025 complete loan 
applications to be received in the USDA Rural Development State Office 
no later than 4:30 p.m. (local time): Second Quarter, December 31, 
2024; Third Quarter, March 31, 2025; and Fourth Quarter, June 30, 2025.

ADDRESSES: Applications must be submitted in paper or electronically to 
the RD State Office for the state where the project is located. A list 
of the RD State Office contacts can be found at: www.rd.usda.gov/about-rd/state-offices. This notice will also be announced at www.grants.gov.

FOR FURTHER INFORMATION CONTACT: Cindy Mason at [email protected], 
Program Management Division, Business Programs, Rural Business-
Cooperative Service, U.S. Department of

[[Page 92087]]

Agriculture, 1400 Independence Avenue SW, Stop 3226, Room 5160-South, 
Washington, DC 20250-3226, or call (202) 720-1400. For further 
information on this program, please contact the Rural Development State 
office in the state which the applicant's headquarters is located. A 
list of Rural Development State Office contacts is provided at the 
following link: https://www.rd.usda.gov/contact-us/state-offices. The 
Rural Development office for the state in which the applicant is 
located. A list of Rural Development State Office contacts is provided 
at the following link: https://www.rd.usda.gov/contact-us/state-offices.

SUPPLEMENTARY INFORMATION: RBCS published a Notice of Solicitation of 
Applications for the Rural Economic Development Loan and Grant Programs 
for FY 2025 on August 23, 2024, (89 FR 68133) Section B states that: 
``The Agency anticipates the following maximum amounts per award: 
Loans--$2,000,000; Grants--$300,000.''
    Based on the total amount of loan applications submitted in FY 2024 
far exceeding the available allocated funds and the number of submitted 
but unfunded applications that will be competing for funding in the 
First Quarter of FY 2025, the Agency has determined that lowering the 
maximum loan amount to $1 million for the Second, Third, and Fourth 
Quarter application periods would allow for additional project 
opportunities and a broader geographic distribution of Program funding.
    The following are the deadlines for FY 2025 complete loan 
applications to be received in the USDA Rural Development State Office 
no later than 4:30 p.m. (local time): Second Quarter, December 31, 
2024; Third Quarter, March 31, 2025; and Fourth Quarter, June 30, 2025. 
Completed loan applications that exceed $1 million but are not funded 
in the FY 2025 First Quarter competition will be allowed to compete for 
Second Quarter funding with the submission of a revised scope of work 
plan and budget for a loan amount not to exceed $1 million.

Kathryn E. Dirksen Londrigan,
Administrator, Rural Business-Cooperative Service, USDA Rural 
Development.
[FR Doc. 2024-27264 Filed 11-20-24; 8:45 am]
BILLING CODE 3410-XY-P
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