USDA 0% Loans.
GBT is committed to the success and longevity of the communities we serve. Since we are a utility, we have access to the United States Department of Agriculture’s Rural Development Loan and Grant Program (REDLG) which makes 0% loans available for rural economic development, job creation, and community facilities. Business start-ups and business expansions can apply for up to $1 million in loans; and community development projects can apply for up to $300,000 in loans.
Loan eligibility & requirements
Eligible activities include:
- business start-up
- business expansion
- community development
Examples of activities not eligible include, but are not limited to:
- refinancing of existing debt
- speculative land purchases
- projects of residential nature
- transfer of ownership without expansion
- 100% working capital loans
- agricultural production
Projects must demonstrate they are economically viable AND have job creation potential by providing:
- business plan containing projected balance sheets, income statements, cash flow statements, and a market/feasibility study;
- a letter of intent from a lending institution to issue a “Declining Irrevocable Letter of Credit”;
- at least 20% supplemental funding of the total project cost by applicant.