Rural Economic Development Loan & Grant Program
The Rural Economic Development Loan and Grant program administered by the United States Department of Agriculture provides funding for rural projects through local utility organizations, including Sangre de Cristo Electric Assn., Inc.
USDA provides zero-interest loans to local utilities which they, in turn, pass through to local businesses (ultimate recipients) for projects that will create and retain employment in rural areas.
The ultimate recipients repay the lending utility directly.
The utility is responsible for repayment to USDA.