Business and Industry Guaranteed Loan Program
|Area of Interest||Renewable Energy|
Administered by the U.S. Department of Agriculture (USDA) Rural Development, the Business and Industry Guaranteed Loan Program is designed to help develop or finance business, industry, and employment and improve the economic and environmental climate in rural communities. This program provides guarantees up to 80 percent of a loan made by a commercial lender. Loan proceeds may be used for a number of items, including working capital, machinery and equipment, buildings, and real estate.
A borrower must be engaged or proposes to engage in a business that will (1) provide employment; (2) improve the economic or environment climate; (3) promote the conservation, development, and use of water for aquaculture; or (4) reduce reliance on nonrenewable energy sources.
|How to Apply||The entity must first find a bank or lending institution willing to extend a loan subject to a guarantee. The bank then makes a joint application with the borrower to the USDA state or district office of Rural Development. Applications are accepted on an ongoing basis.|
|For More Information||http://www.rurdev.usda.gov/BCP_gar.html|
|Primary Contact||Carolyn Parker
1400 Independence Avenue, SW
Washington, DC 20250-1750