Additional Information
- Total Funding: Varies annually based on appropriations.
- Types of Funding:
- Direct Loans: Low-interest loans for the construction, expansion, or improvement of community facilities.
- Loan Guarantees: Guarantees up to 80% of the loan amount to reduce lender risk.
- Grants: Financial assistance for specific projects, often combined with loans.
The CF funding programs are designed to:
• Improve Public Services: Enhance access to essential services such as healthcare, education, and public safety.
• Support Community Development: Foster the development of facilities that contribute to the overall well-being and economic stability of rural communities.
• Promote Economic Growth: Attract and retain businesses by improving community infrastructure and services.
Eligible Applicants:
o Public bodies
o Non-profit organizations
o Federally recognized Tribes
• Eligible Areas: Rural areas with populations of:
o 20,000 or less for Direct Loans
o 50,000 or less for Guaranteed Loans
• Eligible Projects:
o Health care facilities (hospitals, clinics)
o Public safety facilities (fire and rescue stations)
o Public service facilities (schools, libraries, community centers)
o Day care facilities
o Assisted living facilities
o Rehabilitation centers
o Public buildings
• Ineligible Projects:
o Lines of credit
o Owner-occupied and rental housing
o Recreational facilities (e.g., golf courses)
o Racetracks or gambling facilities
o Facilities used for inherently religious activities
o Projects that create a conflict of interest
o Commercial enterprises
• Enhanced Quality of Life: By funding essential community facilities, the CF programs improve the basic quality of life for rural residents.
• Economic Development: Improved infrastructure and services make rural areas more attractive for businesses, leading to job creation and economic growth.
• Sustainability: The development of community facilities supports the long-term sustainability of rural communities by providing necessary services and infrastructure.
