Federal Rural Development Financing
Rural Business Opportunity Grant Program
Grant funds may be used to assist in the economic development of rural areas by providing technical assistance for business development and economic development planning. Grant requests are limited to $50,000 per state.
Grants may be used to:
- Identify and analyze business opportunities that will use local rural materials or human resources. This includes opportunities in export markets, as well as feasibility and business plan studies.
- Identify, train, and provide technical assistance to existing or prospective rural entrepreneurs and managers.
- Establish business support centers and otherwise assist in the creation of new rural businesses.
- Conduct local community or multi-county economic development planning.
- Establish centers for training, technology, and trade that will provide training to rural businesses in the utilization of interactive communications technologies to develop international trade opportunities and markets.
- Conduct leadership development training of existing or prospective rural entrepreneurs and managers.
- Pay reasonable fees and charges for professional services necessary to conduct the technical assistance, training, or planning functions.
Grants may be made to public bodies, nonprofit corporations, Indian tribes on federal or state reservations and other federally recognized tribal groups, and cooperatives with members that are primarily rural residents and that conduct activities for the mutual benefit of the members.
Applicants must have sufficient financial strength and expertise in activities proposed in the application to ensure accomplishment of the described activities and objectives.
218.847.9392, extension 121
507.373.7960, extension 120