Community Vitality and Rural Healthcare – Funding & Opportunities

Opportunity Zone Economic Development Program
A program designed to encourage economic development and job creation in distressed communities through tax benefits. Investors may defer taxes on most capital gains up to Dec. 31, 2026 by making an eligible investment in an Opportunity Zone.

Geographic coverage: Nationwide and U.S. territories
Applications accepted on an ongoing basis
Sponsors: Community Development Financial Institutions Fund, U.S. Department of Treasury, U.S. Internal Revenue Service

Section 108 Loan Guarantee Program
Funding that provides communities with a source of financing for economic development, housing rehabilitation, public facilities, and physical development projects, including improvements to increase resilience against natural disasters.

Geographic coverage: Nationwide
Applications accepted on an ongoing basis
Sponsor: U.S. Department of Housing and Urban Development

USDA Community Facilities Direct Loan and Grant Program
Direct USDA loans and/or grants to purchase, construct, enlarge, or improve essential community facilities for healthcare, public safety, education, and public services in rural areas.

Geographic coverage: Nationwide
Applications accepted on an ongoing basis
Sponsors: U.S. Department of Agriculture, USDA Rural Development

USDA Community Facilities Guaranteed Loan Program
Loans from eligible private lenders, guaranteed by USDA, to help build essential community facilities in rural areas.

Geographic coverage: Nationwide
Applications accepted on an ongoing basis
Sponsors: U.S. Department of Agriculture, USDA Rural Development

Partnerships for Opportunity and Workforce and Economic Revitalization in Coal-Affected Appalachia (POWER) Inactive
Funding for workforce and economic revitalization activities in communities and regions that have been affected by job losses in coal mining, coal power plant operations, and coal-related supply chain industries. Priorities include strengthening the healthcare sector, educational attainment, and broadband access.

Geographic coverage: Available in all of West Virginia and parts of 12 other states.
Letter of Intent (Required): Mar 1, 2024
Application Deadline: Apr 17, 2024
Sponsor: Appalachian Regional Commission

Rural Business Development Grants Inactive
Supports targeted technical assistance, training, and other activities leading to the development or expansion of small and emerging private businesses in rural areas that have fewer than 50 employees and less than $1,000,000 in gross revenues.

Geographic coverage: Nationwide
Application Deadline: Feb 28, 2024
Sponsors: U.S. Department of Agriculture, USDA Rural Development

Appalachian Investments Supporting Partnerships In Recovery Ecosystems (INSPIRE) Initiative Inactive
Funding to assist in moving individuals in the Appalachian region from substance use disorder treatment to recovery to employment, with a focus on support services that enable and support individual successful entry or reentry into the workforce.

Geographic coverage: Available in specific counties in 13 states.
Letter of Intent (Required): Feb 16, 2024
Application Deadline: Mar 8, 2024
Sponsor: Appalachian Regional Commission

Community Development Financial Institutions (CDFI) Program Inactive
Funding for Community Development Financial Institutions (CDFIs) to promote economic revitalization in low-income communities. Works to build capacity of programs that serve low-income people who lack access to affordable financial products and services.

Geographic coverage: Nationwide
Application Deadline: Jan 16, 2024
Sponsor: U.S. Department of Treasury

Native American Community Development Financial Institution Assistance Program (NACA) Inactive
Funding to increase access to credit, capital, and financial services in Native Communities through the creation and expansion of Community Development Financial Institutions (CDFIs) primarily serving Native Communities.

Geographic coverage: Nationwide
Application Deadline: Jan 16, 2024
Sponsor: U.S. Department of Treasury

New Markets Tax Credit (NMTC) Program Inactive
Tax incentives for investments in business and economic development projects in distressed rural and urban counties, including capital investments in healthcare facilities. Investors give to Community Development Entities who then offer low-interest financing to businesses; in return for their investment, investors receive a tax credit against their federal income tax.

Geographic coverage: Nationwide
Application Deadline: Dec 19, 2023
Sponsors: Community Development Financial Institutions Fund, U.S. Department of Treasury