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Home » Agriculture, Business News/Analysis, Federal Agency, Funding/Financing/Investing

The USDA Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program (9003 Program) Is currently Accepting Applications

Submitted by on February 17, 2017 – 1:13 pmNo Comment
(U.S. Department of Agriculture)  This program assists in the development, construction, and retrofitting of new and emerging technologies for the development of Advanced Biofuels, Renewable Chemicals, and Biobased Product Manufacturing by providing loan guarantees for 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
  • Cooperatives
  • 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?
  • Individuals
  • Public and private entities
  • State and local governments
  • Corporations
  • Indian tribes
  • Farm Cooperatives, and Farm Cooperative Organizations
  • Associations of Agricultural Producers
  • National Laboratories
  • Institutions of Higher Education
  • Public Power entities
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." How may funds be used? 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. What are the loan terms? Rates and terms are negotiated between the Lender and the Borrower in accordance to 7 CFR 4279.233 and 4279.234. How do we get started? 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? Current Application Deadline: April 3, 2017 Required Letter of Intent Due:  March 6, 2017 Federal Register: [.PDF] Fact Sheet:  [PDF] Stakeholder Forum VideoWebcast READ MORE

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