11 May 2021

American Rescue Plan Act – Section 603

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The American Rescue Plan Act § 602 provides a total of $350 billion to eligible states, territories, and tribal governments. Funds are available until 2024 and are to be used for “necessary investments” in “water, sewer, broadband infrastructure.”

Of that $350 billion, the total allocated to Missouri is $5.475 billion (combining the allocations at the state level and allocations to cities, counties, and non-county jurisdictions). For guidance, refer to the issue-specific toolkits developed by Missouri state agencies for local governments to use in considering investments for their communities with American Rescue Plan Act (“ARPA”) local fiscal recovery funding.

See the most recent FAQs provided by U.S. Treasury for more information.

The American Rescue Plan Act § 603 provides a total of $130.2 billion directly for broadband infrastructure for eligible municipalities and counties. Funds are available until December 2024. Funds must be used to make “necessary investments” in “water, sewer, and broadband infrastructure.”

4 May 2021

Public Entity Loan Program

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The Missouri Development Finance Board Public Entity Loan Program provides loans to local governments to finance general public infrastructure improvements and economic development projects. Loans are individually structured tax-exempt revenue bonds tailored to meet the needs of each public entity. The loans may be secured (sale/leaseback) or unsecured depending upon the credit strength of the public entity and the nature of the public improvements and are subject to annual appropriation.

4 May 2021

Missouri Infrastructure Development Opportunities Commission Program (MIDOC)

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The purpose of the Missouri Infrastructure Development Opportunities Commission Program is to help rural communities and rural districts that have a financial hardship with their infrastructure project and are unable to obtain financing elsewhere, with priority given to water and sewer projects addressing public health and safety issues. Projects must address reparation of public infrastructure to be eligible.  

Loan dollar amounts are between $25,000 and $150,000.

3 May 2021

ReConnect Program

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The ReConnect Program offers unique federal financing and funding options in the form of loans, grants, and loan/grant combinations to facilitate broadband deployment in areas of rural America that don’t currently have sufficient access to broadband, defined by the law as 10 Mbps (megabits per second) downstream and 1 Mbps upstream.

This program will generate private sector investment to deploy broadband infrastructure to provide high-speed internet e-Connectivity to as many rural premises as possible, including homes, community facilities for healthcare and public safety, schools, libraries, farms, ranches, factories, and other production sites. The ReConnect program offers three products: 100% Loans, 50% Loan-50% Grant combinations, and 100% Grants.

The application window closed February 22, 2022. For more information, see the funding opportunity announcement.

3 May 2021

Business and Industry Loan Guarantees

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This program offers loan guarantees to lenders for their loans to rural businesses. Lenders need the legal authority, financial strength, and sufficient experience to operate a successful lending program. This includes lenders that are subject to supervision and credit examination by the applicable agency of the United States or a State including: Federal and State-chartered banks; Savings and loans; Farm Credit Banks with direct lending authority; and Credit unions.

For more information, see the fact sheet. Applications are currently open.

3 May 2021

Community Facilities Guaranteed Loan Program

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This program provides loan guarantees to eligible lenders to develop essential community facilities in rural areas. An essential community facility is defined as a public improvement, operated on a non-profit basis, needed for the orderly development of a rural community where the rural community is a city or town, or its equivalent county or multi-county area. The term “facility” refers to both the physical structure financed and the resulting service provided to rural residents or rural businesses.

See the fact sheet for more information. This program is currently open.

3 May 2021

Telecommunications Infrastructure Loans & Loan Guarantees

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This program offers financial assistance to eligible broadband providers that will construct, improve, or expand telecommunication and broadband networks in rural areas. There are three types of available loans: Cost-of-Money loans are direct loans from USDA Rural Utilities Service; Loan Guarantees through the Federal Financing Bank (FFB); and Hardship loans from the USDA Rural Utilities Service. For more information, see the Program Fact Sheet.

3 May 2021

Rural Economic Development Loan & Grant Program

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The Rural Economic Development Loan (REDL) and Grant (REDG) programs provide funding to rural projects through local utility organizations. Under the REDLoan program, USDA provides zero-interest loans to local utilities, which they, in turn, pass through to local businesses (ultimate recipients), for projects that will create and retain employment in rural areas. The ultimate recipients repay the lending utility directly. The utility is responsible for repayment to the Agency. 

Under the REDGrant program, USDA provides grant funds to local utility organizations to use the funding to establish revolving loan funds (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to the Agency.