USDA offers One R.D. and R.E.A.P. Loans and Grants for Wyoming Businesses
CHEYENNE, Wyo. (Wyoming News Now) - The USDA rural development programs have two grants and loans to incentivize for-profit businesses in rural areas with populations of under 50,000.
“For almost every type of business venture. Whether its acquisition expansion, machinery and equipment, re-finance. The loan guarantee will help alleviate a lot of the risk for the bank because we guarantee 80 percent of the loan,” said Scott Sutherland, Director of Business Programs Wyoming USDA Rural Development.
The Wyoming USDA Rural Development has a new loan guarantee program called One R.D. This grant is available for any rural commercial use.
The purpose of the program is to make capital accessible to rural businesses.
There is also the “R.E.A.P.” renewable energy for America program that is underutilized.
This program helps improve energy efficiency and renewable energy when upgrading equipment for businesses.
“Or R.E.A.P., and the idea behind that is to pay for up to 25 percent of equipment that is more energy efficient than what its replacing. So virtually any type of non-movable equipment,” said Sutherland.
Business efficient equipment like new windows, H-Vac systems, solar panels, or wind turbines apply, and almost 99 percent of applicants are awarded.
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