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USDA now accepting applications for loan guarantees

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Courtesy of Bergeson & Campbell, P.C.

On July 16, 2015, the U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that USDA is accepting applications for loan guarantees up to $250 million through the Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program, formerly known as the Biorefinery Assistance Program. The funding is divided into rounds one and two with applications due on October 1, 2015, and April 1, 2016, respectively. In addition to opening funding, USDA has improved the program to include the wider range of renewable products that are now part of the biobased industry. The application process for funding has been streamlined, and funding is now available for renewable chemicals, biobased products, and end-user products as well as the biofuels that the program originally covered. USDA's webpage on the program includes an application guide, fact sheet, and link to the July 16, 2015, webinar.

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