A final rule regarding loan programs designed to fund rural projects was issued by the Rural Utilities Service (RUS) on November 29.
The rule consolidates four loan programs under one comprehensive regulation to streamline steps, increase efficiency, and improve access to fund rural projects. The RUS loan programs addressed include:
- Water and wastewater disposal
- Community facilities
- Business and industry
- Rural energy, which covers solar, geothermal, wind, biomass, and hydropower projects.
Eligible entities for loan guarantees are public agencies, nonprofits, tribes. and utilities in rural areas with populations under 10,000 for water and wastewater; under 20,000 population for community facilities; under 50,000 population for business and industry; and farms, ranches, and small businesses in rural areas demonstrating financial need.
Most water systems serving populations of 10,000 or less are groundwater-based systems.
More details and regulations regarding the loans can be found here.