[Federal Register Volume 84, Number 219 (Wednesday, November 13, 2019)]
[Notices]
[Pages 61594-61595]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-24597]


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DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service


Notice of Solicitation of Applications for Inviting Applications 
for the Rural Economic Development Loan and Grant Programs for Fiscal 
Year 2020

AGENCY: Rural Business-Cooperative Service, USDA.

ACTION: Notice of solicitation for applications; Amendment

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SUMMARY: The Rural Business-Cooperative Service (RBS) announces that 
the maximum loan amount awarded for applications competing in the 
Second, Third, and Fourth Quarter funding cycles of fiscal year (FY) 
2020 will be $1 million.

FOR FURTHER INFORMATION CONTACT: The Rural Development office for the 
state in which the applicant is located. A list of Rural Development 
State Office contacts is provided at the following link: http://www.rd.usda.gov/contact-us/state-offices.

SUPPLEMENTARY INFORMATION: RBS published a Notice of Solicitation of 
Applications for the Rural Economic Development Loan and Grant Programs 
for FY 2020 on July 18, 2019, (FR Vol. 84, 34333) Section B states 
that: ``The Agency anticipates the following maximum amounts per award: 
Loans--$2,000,000; Grants--$300,000.''
    Based on the total amount of loan applications submitted in FY 2019 
far exceeding the available allocated funds and the number of submitted 
but unfunded applications that will be competing for funding in the 
First Quarter of FY 2020, the Agency has determined that lowering the 
maximum loan amount to $1 million for the Second, Third, and Fourth 
Quarter application periods would allow for additional project 
opportunities and a broader geographic distribution of Program funding.
    The following are the deadlines for FY 2020 complete loan 
applications to be received in the USDA Rural

[[Page 61595]]

Development State Office no later than 4:30 p.m. (local time): Second 
Quarter, December 31, 2019; Third Quarter, March 31, 2020; and Fourth 
Quarter, June 30, 2020. Completed loan applications that exceed $1 
million but are not funded in the FY 2020 First Quarter competition 
will be allowed to compete for Second Quarter funding with the 
submission of a revised scope of work plan and budget for a loan amount 
not to exceed $1 million.

Bette B. Brand,
Administrator, Rural Business-Cooperative Service.
[FR Doc. 2019-24597 Filed 11-12-19; 8:45 am]
BILLING CODE 3410-XY-P