Haywood EMC is proud to partner with the U.S.D.A. to offer a Rural Economic Development Loan and Grant program to qualified projects. The Rural Economic Development Loan program with Haywood EMC can provide funding to rural projects through the cooperative. This works through the USDA providing zero interest loans to the cooperative to pass through to local businesses or non-profits that exist within Haywood EMC’s service territory or entities that provide services to our member-owners. These funds can be used to grow or build new business opportunities or provide a means for capital improvements. The ultimate recipients of the funds are to repay the cooperative at the same zero interest that the cooperative has from the USDA.

Under the Rural Economic Development Grant Program, Haywood EMC uses USDA-awarded grants to establish revolving loan funds (RLFs), which help support projects that create or retain rural jobs. When the RLF is exhausted or ends, the grant is repaid to USDA by Haywood EMC.

The funds may be used on eligible projects. Examples include:

  • Business incubators
  • Community development assistance to nonprofits and public bodies (particularly job creation or enhancement)
  • Facilities and equipment for education and training for rural residents to facilitate economic development -
  • Facilities and equipment for medical care to rural residents
  • Facilities and equipment for emergency services to rural residents (including purchases of emergency services vehicles; ambulances and fire trucks)
  • Start-up venture costs, including such things as financing fixed assets like real estate, new or existing buildings, equipment, or working capital
  • Business expansion
  • Technical assistance

Up to $300,000 in loan funding can be applied for through Haywood EMC for terms up to 10 years at 0% interest.

Applications can be made throughout the year. If you are interested, please reach out to Mitch Bearden with Haywood EMC via the contact information below.

Mitch Bearden
Chief Communications Officer
(828) 452-2281
Mitch.Bearden@haywoodemc.com