The primary purpose of Powder River Energy’s Economic Development Program is to provide a conduit of funds and other resources for local economic development projects in northeastern Wyoming.
There are two sources of funding available - Federally-funded and non-Federally funded.
The Federally-funded program is the Rural Economic Development Loans and Grants (REDLG). REDLG works in conjunction with the United States Department of Agriculture (USDA).
The non-Federally funded program is administered primarily at the local level. Eligible projects for loans can include those of business ventures or non-profit entities involved in a community or economic development project promoting job creation and/or providing needed community services benefiting rural areas. The minimum loan amount is $20,000.
The first step in receiving development dollars from either fund is to fill out a Loan Fund Application and return it to Powder River Energy CEO Brian Mills. The application is available below or you can call our office at 800-442-3630 to request an application. After receipt by PRECorp, applications will be reviewed by in-house committees to determine the completeness of the application and the project’s eligibility for financing.
Any applications approved by PRECorp and needing approval for federally funded dollars would be referred to a state representative with the USDA for assistance with federal paperwork and submittal to a federal office for loan approval.