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:
Start-Up Venture costs, including, but not limited to financing fixed assets such as real estate, buildings (new or existing), equipment, or working capital;
Business expansion;
Business Incubators;
Technical Assistance;
Project feasibility studies;
Advanced Telecommunications services and computer networks for medical, educational, and job training services;
Other Projects eligible under § 4280.21; or
Community Facilities Projects.
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