The U.S. Department of Agriculture’s Rural Utility Service is accepting RUS broadband loan applications for Fiscal Year 2018, for the Rural Broadband Access Loans and Loan Guarantees Program. RUS will publish on its website, the amount of funding received (that will be available for loans) through the final appropriations act.
Since 2014, RUS has only accepted applications through a set window, but now feels that isn’t really helping to help finance improved broadband service in rural areas. That’s why this year, RUS is trying something new — accepting applications on a rolling basis throughout FY 2018. This will give RUS the ability to request additional information and modifications to a submitted application whenever necessary, it says in a Federal Register notice.
Applications will be processed on a first come, first served basis. RUS will evaluate the applications every 90 days, ranking applications based on the percentage of unserved households the application proposes to serve.
RUS revised the minimum and maximum amounts for broadband loans for the fiscal year. The minimum loan RUS will make is $100,000; the maximum amount available is $25,000,000. To qualify for a loan, providers must offer potential customers a minimum data transmission rate of 25 Mbps downstream and 3 Mbps upstream for both mobile and fixed service.
Applications will be accepted through September 30. RUS will process loan applications as they are received. Submit loan applications here.
April 2, 2018
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