Rural Community Application

Rural Community Application. The application that is submitted by a local entity must include: A. Purpose of the proposed grant and/or loan including a detailed list of the request; B. A Description of the proposed project; C. The estimated cost of the total project by major category (e.g. engineering, legal, administration, etc.) and all public or private sources of funding that have been secured that will be utilized exclusively for the project; D. A time schedule for implementation and completion of the project, evidencing an expeditious completion of the project; E. A statement that the specific project will create at least five jobs along with an F. estimated number of jobs to be created; F. Engineering or architectural documentation where applicable; G. The municipality or county's most recent unemployment rate at the time of application submission; H. A copy of the Rural Community's Resolution of Authorization to apply for funds; I. A statement reflecting how the project will be managed, and who will manage it; J. Applications for loan guarantees must include the requested loans terms, reasonable interest rates, collateral position, and requested percentage of loan guarantee. The loan terms, the interest rate, and the percentage of loan guarantee will be based on the number of jobs created and the financial position of the rural business.