USDA solicits applications for loan guarantee program

By Erin Voegele | August 08, 2018

The USDA’s Rural Business-Cooperative Service has announced it is soliciting applications for the Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program.

The program provides loan guarantees to fund the development, construction, and retrofitting of commercial-scale biorefineries using eligible technology. It can also be used to help fund the development of biobased product manufacturing facilities that use technologically new commercial-scale processing and manufacturing equipment to convert renewable chemicals and other biobased outputs of biorefineries into end-user products on a commercial scale.

According to the USDA, the program can provide loan guarantees up to $250 million.

The USDA has announced two application deadlines for the program. Applications for the first cycle must be received by Oct. 1. Applications for the second cycle must be submitted by April 1, 2019.

Additional information is available on the Federal Register website.