Biobased Product Manufacturing Guaranteed Loan Program (9003)

Biobased Product Manufacturing Guaranteed Loan Program (9003) is sponsored by USDA Rural Development. This program provides loan guarantees to assist in the development, construction, and retrofitting of new and emerging technologies, including those related to biobased products. This can be relevant for bioengineering and advanced manufacturing of biobased materials.

Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program What does this program do? This program assists in the development, construction, and retrofitting of new and emerging technologies for advanced biofuels , renewable chemicals and biobased products by providing loan guarantees up to $250 million.

Who may apply for this program?

Lenders with legal authority, sufficient experience and expertise, and can demonstrate they meet the FDIC definition of “Well Capitalized” at the time of application and issuance of Loan Note Guarantee, including: Federal or State chartered bank Federally recognized tribes Farm Credit Bank, or other Farm Credit System institution with direct lending authority Credit Unions subject to credit examination and supervision by a State agency or the National Credit Union Administration The National Rural Utilities Cooperative Finance Corporation What kind of borrower may the lender request a guarantee for?

Public and private entities State and local governments Farm Cooperatives, and Farm Cooperative Organizations Associations of Agricultural Producers Institutions of Higher Education Are there additional requirements?

The project must be located in a State Total amount of a Federal participation (loan guarantee, plus other Federal funding) will not exceed 80 percent of total eligible project costs The borrower and other principals involved in the Project must make a significant cash equity contribution What is an eligible area? The project may be located in any of the 50 States and a number of territories and protectorates – see 7 CFR 4279.

2 under "State."

Funds may be used to fund the development, construction and retrofitting of: Commercial-Scale Biorefineries using Eligible Technology 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 Refinancing, in certain circumstances, may be eligible In broad terms, two types of projects are eligible for the program – Biorefineries , and Biobased Manufacturing facilities .

Rates and terms are negotiated between the Lender and the Borrower in accordance to 7 CFR 4279. 233 and 4279. 234 .

The Section 9003 Program uses a two-phase application process which is described on the Forms & Resources tab. The Federal Register also details the two-phase application process . What are the application deadlines?

Unless otherwise specified by the Agency in a notice published in the FEDERAL REGISTER, application deadlines are 4:30 p. m. Eastern Daylight Savings Time on October 1 and April 1 of each year.

If the application deadline falls on a weekend or an observed holiday, the deadline will be the next Federal business day. Any application received after 4:30 p. m.

Eastern Daylight Time on the application closing date will be considered for the subsequent application cycle, provided that funding is available. For each guarantee request, the Lender or the Borrower must submit to the Agency a non-binding letter of intent to apply for the loan guarantee not less than 30 calendar days prior to the application deadline.

If the letter of intent deadline falls on a weekend or an observed holiday, the deadline will be the next Federal business day. Complete applications must be received by the Agency on or before April 1 of each year to be considered for funding for that fiscal year. Who can answer questions?

Contact Energy Programs at the following address: USDA Rural Development, Energy Programs Attention: Technology Branch 1400 Independence Avenue, SW, Washington, DC 20250-3225 You may also contact Todd Hubbell at (202) 720-0410 or Todd. Hubbell@wdc. usda.

gov What governs this program? Code of Federal Regulation, 7 CFR 4279, Subpart C and 7 CFR 4287, Subpart D, and continued in the Agricultural Act of 2014 (2014 Farm Bill)( Pub. L.

113-79 ) This program is authorized under 7 U.S.C. 8103 https://www. rd.

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