Rural Business and Cooperative Development Services: Rural Economic Development Loan and Grant Program or REDLG.
The REDLG loan program is in place to promote rural economic development and rural job creation projects. The REDLG grant program is in place to assist in developing facilities for emerging enterprises.
- The minimum loan amount is $10,000. The maximum dollar award on loan is $1,000,000. Zero interest, with payment period up to ten (10) years. Monthly service fee. A letter of credit or other form of guaranty satisfactory to Mor-Gran-Sou required.
Uses: For the exclusive purpose of promoting rural economic development and/or job creation. Preference given to businesses organized under N.D. Century Code as non-profit cooperative enterprises.