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Rural Economic Development Resource Directory

Commercial LendingShow

U.S. Department of the Treasury

Community Development Financial Institutions (CDFI) FundThe Treasury Department's CDFI Fund stimulates the creation and expansion of CDFIs. It offers resources and innovative programs that invest federal funds alongside private sector capital, which is a new source of capital for neighborhoods that lack access to financing. Also refer to the OCC'sCommunity Developments Fact SheettitledBank Partnerships With Community Development Financial Institutions and Benefits of CDFI Certification.

OCC

Commercial Lending in Indian Country: Potential Opportunities in a Growing MarketThisCommunity Developments Insightreport discusses the unique opportunities and challenges of lending in Indian Country and provides banks with background on the market, regulatory considerations, and best practices by successful lenders. The report addresses the factors that make lending in Indian Country attractive for banks.

Small Business Administration (SBA)

The SBAadministers direct loan and loan guarantee programs for developing and expanding small businesses.

  • The7(a) programis the SBA's flagship loans guaranty program, designed to expand access to capital for small businesses. Banks can use this program to finance transactions that include real estate. It can also be used to finance short- and long-term working capital, refinance current business debt, and purchase furniture, fixtures, and supplies. Refer toCommunity Developments Fact SheettitledWhat Is the SBA 7(a) Loan Guaranty Program?
  • The504 loan programprovides long-term, fixed rate financing for major fixed assets that promote business growth and job creation. 504 loans are available through SBA's Certified Development Companies. Refer toCommunity Developments Fact SheettitledSBA Certified Development Company/504 Loan Program. Also refer to theCommunity Developments Insightsreport titledSBA's Certified Development Company/504 Loan Program: Small Businesses' Window to Wall Street.

U.S. Department of Agriculture's (USDA) Rural Development

USDA Rural Developmentprovides business programs that work through partnerships with public and private community-based organizations and banks to provide financial assistance, business development and technical assistance to rural businesses.

  • USDA's Business and Industry Loan Guarantee Programprovides business and industry loan guarantees up to 90 percent of a loan made by commercial lenders to rural businesses. Refer toCommunity Developments InsighttitledUSDA's Business and Industry Guaranteed Loan Program. Also refer toCommunity Developments Fact SheettitledUSDA Rural Development Business and Industry Guaranteed Loans.
  • USDA Rural Microentrepreneur Assistance Programprovides funding to organizations that provide training and technical assistance or make small loans to new and existing rural small businesses.
  • USDA Rural Business Investment Programprovides a Rural Business Investment Company license to newly formed developmental capital organizations to help meet the equity capital investment needs in rural communities.

National Council of State Agricultural Finance Programs

These programsprovide national representation for states that operate finance programs for farmers, ranchers, and the agricultural industry. For example, through theAggie Bondprogram, the participating state coordinates the creation of a bond that allows lenders to earn federally tax exempt interest income on loans to eligible beginning farmers and ranchers.

Community RevitalizationShow

OCC

Federal Home Loan Bank Programs for Community Development FinanceThisCommunity Developments Fact Sheetdiscusses opportunities that banks may consider for community development finance provided by the Federal Home Loan Bank System.

New Markets Tax Credits: Unlocking Investment PotentialThisCommunity Developments Insightsreport describes new markets tax credits and how banks can use the tax credits to support community and economic development activities.

Board of Governors of the Federal Reserve System

Perspectives From Main Street: Bank Branch Access in Rural CommunitiesThis report contributes to the public's understanding of trends in the banking industry. The report analyzes which communities across the country have been affected by bank branch closings; highlights how consumer groups and small businesses use branches; and addresses how communities are affected when their local bank branches close.

U.S. Department of Agriculture

Food Environment AtlasThe Economic Research Service's Food Environment Atlas provides data on food access by U.S. counties. Specifically, the atlas provides data on food environment indicators to stimulate research on the determinants of food choices and diet quality. The atlas also provides an overview of a community's ability to access healthy food and its success in doing so.

Rural Placemaking Innovation ChallengeThis Rural Development program provides funds through cooperative agreements for eligible entities to help provide planning support, technical assistance, and training to foster placemaking activities in rural communities.

Community Facilities Guaranteed Loan and Grant ProgramRural Development partners with private lenders to finance essential public facilities in rural areas, equipment purchases, and other project related expenses. Borrowers under this program are public entities, such as municipalities, counties, special-purpose districts, nonprofit organizations, and tribal governments.

Other Resources

National Main Street CenterThe center, a program under the nonprofit National Trust for Historic Preservation, is committed to preservation-based economic development in older and historic downtowns and neighborhood commercial districts.

Project for Public SpacesThis nonprofit organization provides grants, training, and technical assistance to support the well-being of communities through public spaces. The organization helps community groups through every step of the process to make public spaces more impactful in their communities.

Healthy Food AccessThe organization connects community leaders, healthy food retailers, policymakers, and advocates to an extensive array of resources, strategies, and ideas to improve and increase access to healthy foods. PolicyLink, The Food Trust, and the Reinvestment Fund created the nation's first comprehensive healthy food access retail portal and learning community designed to promote healthy food retail efforts in regions across the country.

Farm Service AgencyShow

Guaranteed Farm LoansThe Farm Service Agency guarantees loans made by banks and other financial institutions to purchase farms and for farm operations. The agency can guarantee up to 90 percent of the loan amount.

Beginning Farmers and Ranchers LoansThe agency makes and guarantees loans to beginning farmers and ranchers who are unable to obtain financing from commercial lenders.

Farmer MacFarmer Mac, which stands for Federal Agricultural Mortgage Corporation, is chartered by the federal government to serve as a secondary market for first mortgage agricultural real estate loans. Congress created Farmer Mac in 1988 to expand availability of mortgage credit to U.S. farmers, ranchers and rural homeowners, businesses, and communities. USDA'sRisk Management Agencyprovides crop insurance for U.S. farmers and ranchers and provides resources and tools for farmers and ranchers.

Public Facilities LendingShow

Rural Community Assistance CorporationThis nonprofit organization advocates for and provides training and technical and financial resources to rural communities to help them achieve their goals and visions.

Rural Community Assistance PartnershipThis national network of nonprofit partners works to provide technical assistance, training, resources, and support to rural communities, the U.S. territories, and tribal lands.

Rural DevelopmentThis financial program supports the development of essential public facilities and services, including the following:

  • Community Facilities Guaranteed Loan Programprovides loan guarantees to eligible lenders that lend to borrowers interested in developing essential community facilities in rural areas. Eligible borrowers include public bodies, Indian tribes, and nonprofit organizations.
  • Rural Energy for America Program Renewable Energy Systems and Energy Efficiency Improvement Guaranteed Loans and Grants Programprovides loan guarantees to eligible lenders that lend to borrowers interested in building or improving energy systems in rural areas.
  • Water and Waste Disposal Loan Guarantee Programprovides loan guarantees to eligible lenders that lend to borrowers interested in building or improving facilities that provide drinking water, sanitary sewers, solid waste disposal and storm water disposal facilities.

Rural Broadband ProgramsShow

USDA

Telecommunications programs: USDA provides a variety of funding programs for for-profit and nonprofit organizations, tribes, municipalities, and cooperatives to build and expand broadband networks. USDA loans help to build broadband networks and deliver service to rural households and businesses, provide capital for rural telecommunications companies, broadband providers, wireless companies, and fiber-to-the-home providers. Grants are reserved for communities with the highest need. Telecommunications Programs offered include the following:

  • Community Connect Program
  • Distance Learning and Telemedicine Grants
  • Rural Broadband Loans, Loan/Grant Combinations, and Loan Guarantees
  • Telecommunications Infrastructure Loans and Guarantees

Rural Economic Development Loan and Grant Program: This program provides funding for rural projects through local utility organizations. The program provides zero-interest loans to local utilities that they pass through to local businesses that are the intended recipients for projects designed to create and retain employment in rural areas.

Economic Development AdministrationThe Economic Development Administration's investment policy is designed to establish a foundation for sustainable job growth and the building of durable regional economies throughout the United States. The Economic Development Administration encourages its partners around the country to develop initiatives that advance new ideas and creative approaches to address rapidly evolving economic conditions.

  • Public Worksprogram helps distressed communities revitalize, expand, and upgrade their physical infrastructures. The program enables communities to attract new industry; encourage business expansion; diversify local economies; and generate or retain long-term, private-sector jobs and investment through the acquisition or development of land and infrastructure improvements needed for the successful establishment or expansion of industrial or commercial enterprises.

National Telecommunications and Information AdministrationThe National Telecommunications and Information Administration is responsible by law for advising the President on telecommunications and information policy issues. This agency's programs focus on expanding broadband internet access and adoption in America, expanding the use of spectrum by all users, and helping to ensure that the internet remains an engine for continued innovation and economic growth.

Federal Communications Commission (FCC)

The FCC regulates interstate and international communications by radio, television, wire, satellite, and cable in all 50 states, the District of Columbia, and U.S. territories. The FCC produces aBroadband Deployment Report.

  • FCC National Broadband Map: The map, administered by the National Telecommunications and Information Administration, provides information on broadband technology, speed, and fixed residential providers by address nationwide.
  • Measuring Broadband America: This program is a national study of broadband service in the United States. The program was derived from a recommendation by the National Broadband Plan to improve the availability of information for consumers about their broadband services.
  • Getting BroadbandQuestions and Answers:This guide provides basic information about broadband, the different types, how it works, and how consumers might get broadband to their communities.

Other Resources

Gaps in Broadband Access and Usage: A Rural and Urban CRA Opportunity: This Federal Reserve of St. Louis report describes how governmental entities and the private sector have worked to expand broadband access throughout the United States.

Community Broadband Networks: The nonprofit Institute for Local Self-Reliance provides innovative strategies, working models, and timely information to support environmentally sound and equitable community development.

National Association of Telecommunications Officers and Advisors:The association's mission is to support and serve the communications interests and needs of local governments.

National Digital Inclusion Alliancedisseminates financial and operational resources for digital inclusion programs while serving as a bridge between policymakers and the public.

Next Century Citiessupports local officials and community leaders across the country as they seek to ensure that everyone has fast, affordable and reliable internet access.

Broadband Communitiesis an online publication featuring articles about providing broadband technologies for buildings and communities. The publication focuses on residential buildings, developments, and municipalities.

Rural HousingShow

OCC

Low-income housing tax credits: TheOCC's Tax Credit Resource Directory pageprovides links to a sampling of organizations to help banks interested in investing and lending to federal tax credit projects.

  • Community Developments Insightsreport titledLow-Income Housing Tax Credits: Affordable Housing Investment Opportunities for Banksdescribes how LIHTCs are used to develop affordable rental housing and how banks can benefit from investing in LIHTC-financed projects. The report outlines risks and regulatory considerations of LIHTC investments and describes how these investments would be considered under the Community Reinvestment Act.

TheCommunity Developments InvestmentstitledExpanding Housing Opportunities: Single-Family Rehabilitation Financing Programshighlights how minority, low-income, and distressed communities benefit from bank lending and federal loan programs. The publication also points to OCC guidance on targeted higher-loan-to-value lending programs.

TheCommunity Developments InvestmentstitledPreserving Affordable Housing: Innovative Partnershipsdescribes the innovative approaches to help preserve the nation's supply of affordable multifamily rental properties, ranging from predevelopment financing to new debt products and mission-driven equity investment structures.

U.S. Department of Housing and Urban Development (HUD)

TheCommunity Developments InvestmentstitledHousing Financing in Indian Country: Spotlight on HUD's Title VI Programspotlights HUD's Title VI Loan Guarantee Program, which provides an additional source of funding for Indian tribes receiving federal Indian Housing Block Grants for affordable housing activities.

TheCommunity Developments Fact SheettitledFHA's 203(k) Loan Programexplains how the program enables homebuyers and homeowners throughout the country to finance the purchase or refinancing of a house and the cost of its rehabilitation through a single mortgage.

U.S. Department of Agriculture

TheCommunity Developments Fact SheettitledRural Housing Service Single Family Housing Guaranteed Loan Programexplains how the Rural Housing Service (RHS) guarantees qualifying mortgages made by RHS-approved banks.

TheCommunity Developments Fact SheettitledMultifamily Rural Housing Finance Programexplains how the RHS guarantees qualifying multifamily housing loans made by RHS-approved banks.

TheCommunity Developments Fact SheettitledU.S. Department of Veterans Affairs Home Loan Guaranty Programexplains how this program helps eligible veterans, current service members, and their survivors obtain, retain, and modify their homes. A key product offered by the program is the Veterans Affairs-guaranteed home loan benefit.

Other Resources

Council for Affordable and Rural HousingThe council is a national nonprofit organization for participants in the affordable rural housing professions.

Housing Assistance CouncilThis national nonprofit organization supports affordable housing efforts throughout rural America. The council provides below-market financing for affordable housing and community development, technical assistance and training, research and information, and policy formulation to enable solutions for rural communities.

NeighborWorks America Rural InitiativeThe Rural Initiative provides funding to community development corporations and local nonprofit organizations in over 75 rural communities across the country.

National Rural Housing CoalitionThe coalition works to focus policymakers on the needs of rural areas and coordinates a network of rural housing advocates around the nation.

Additional ResourcesShow

Federal Reserve Banks

The Federal Reserve Bank of Atlanta provides theSmall City Economic Dynamism Indexto help policymakers and practitioners gain more nuanced perspectives. The index ranks 816 small and midsized U.S. cities across 13 indicators of economic dynamism in four categories: demographics, economics, human capital, and infrastructure.

OCC

The following OCC Community Developments publications provide financial institutions with information on other programs that are specifically designed for rural areas.

  • TheCommunity Developments Fact SheettitledIndian Loan Guarantee, Insurance, and Interest Subsidy Programhighlights the U.S. Department of the Interior's Indian Loan Guarantee, Insurance, and Interest Subsidy Program, which guarantees loans to Indian individuals, tribes, and Indian- and tribe- owned businesses.
  • TheCommunity Developments InvestmentstitledFinancing Health Care Centers: Supporting Community Wellnesshighlights partnerships banks are forming to help finance the construction and expansion of community health centers.
  • Native American Banking Resource Directoryprovides descriptions for a sampling of organizations that offer resources to banks interested in lending, investing, or providing retail financial services in Indian country.

USDA

Rural America at a Glance, 2021The Economic Research Service's report addresses resiliency and recovery of rural communities in the wake of the COVID-19 pandemic, including population and employment change, intensity of infection and vaccination rates, and internet availability and adoption.

Food Access Research AtlasUSDA has defined a food desert as a census tract with a substantial share of residents who live in low-income areas that have low levels of access to a grocery store or a healthy, affordable food retail outlet. Theatlasprovides statistics on food choices, health and well-being, and other information about communities in the United States.

Rural ClassificationsThe Economic Research Service has developed several classifications to measure rurality and assess the economic and social diversity of rural America. The Rural-Urban Continuum Codes, the Urban-Influence Codes, and the Rural-Urban Commuting Areas classify counties, census tracts, and zip codes by degree of rurality.State Fact Sheetsprovide information on population, income, education, employment, federal funds, organic agriculture, farm characteristics, farm financial indicators, top commodities, and exports for each state in the United States.

National Rural Development Partnership (NRDP)(PDF)The USDA administers this national initiative, which uses state collaboratives to bring together key rural participants to address critical rural community concerns. The partnership highlights effective strategies for rural community and economic development and maintains a web clearinghouse on rural development.

National Institute of Food and AgricultureThe institute finds innovative solutions to issues related to agriculture food, the environment, and communities. For example, the institute sponsors, the Cooperative Extension Service, which is designed to help individuals and families build financial assets instead of debt. The Cooperative Extension Service provides research-based information and education via courses, web-based curriculums, and other educational outlets for people to acquire knowledge, skills, and motivation to build financial security.

State Rural Development OfficesThe state offices' contact list provides financial institutions with well-informed rural development professionals.

Other Resources

National Community Reinvestment CoalitionRefer to the coalition'sRural Communities and Several Major Urban Areas Bear Brunt of Bank Branch Closures Since Financial Crisis With Emergency of 86 New "Banking Deserts."From 2008-2016, there were 86 new banking deserts created in rural areas. (Banking deserves are service gaps where there are no banks within 10 miles of populated areas.)

U.S. Census BureauRefer to the bureau'sUnderstanding and Using American Community Survey Data: What Users of Data for Rural Areas Need to Know. The survey provides a detailed portrait of the social, economic, housing, and demographic characteristics-including the characteristics of people and households in rural areas-of America's communities.

Housing Assistance CouncilThe council'sRural Data Portalprovides information on the social, economic, and housing characteristics of communities in the United States. The portal provides over 350 data indicators for rural communities. Most of the information provided comes from the council's tabulations of the 2010 Census of Population and Housing, the American Community Survey, and Home Mortgage Disclosure Act Data.

National Association of Development OrganizationsThis organization is a membership association that provides a network for its members to share ideas and innovative projects through its Economic Development Digest, which highlights best practices in rural economic development.

National Rural Housing CoalitionRefer to the coalition'sRural America's Rental Housing Crisis: Federal Strategies to Preserve Access to Affordable Rental Housing in Rural Communities, whichdocuments the successes of USDA's rental housing programs and the challenges facing them now.

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