USDA Increases Funding Limits for the Revolving Fund Program to Help Expand Access to Rural Water and Wastewater InfrastructureWed, 17 Mar 2021 12:29:40 CDT
The U.S. Department of Agriculture (USDA) today announced that it is increasing funding limits for loans financed under the Revolving Fund Program to support water and wastewater infrastructure projects in rural America. This improvement is in accordance with provisions in the Agriculture Improvement Act of 2018 (2018 Farm Bill).
In a final rule published today, USDA increased to $200,000 the maximum loan amount in the Revolving Fund Program. The previous loan limit was $100,000. This change will help expand access to safe, reliable drinking water, and sanitary sewage treatment for households in rural communities.
The Revolving Fund Program helps qualified nonprofit organizations create revolving loan funds to extend and improve water and waste disposal systems in rural areas. The funds may be used for pre-development costs for water and wastewater treatment projects. Funds also may be used for small short-term capital improvement projects that are not part of regular operations and maintenance.
Program recipients set the loan terms for the individual communities they serve.
Additional information is available on page 14525 of the March 17, 2021, Federal Register.
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