§ 4280.15Ultimate Recipient Projects eligible for Rural Economic Development Loan funding.
An Intermediary may receive REDL funds only when it has a pre-approved Ultimate Recipient and Project that have an immediate need for the Zero-Interest Loan. REDL funds may only be used by the Intermediary to make a Zero-Interest Loan to the Ultimate Recipient to finance financially viable economic development or job creation Projects in a Rural Area. Funds may only be used to provide the following assistance:
(a) Start-Up Venture costs, including, but not limited to financing fixed assets such as real estate, buildings (new or existing), equipment, or working capital;
(b) Business expansion;
(c) Business Incubators;
(d) Technical Assistance;
(e) Project feasibility studies;
(f) Advanced Telecommunications services and computer networks for medical, educational, and job training services;