USDA extends application deadline for loan guarantee program

December 20, 2024

BY Erin Voegele

The USDA Rural Business Cooperative Service on Dec. 13 announced it is extending the deadline to apply for the agency’s Section 9003 loan guarantee program. Applications must now be submitted before Dec. 31.

The 9003 Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program provides loan guarantees up to $250 million to assist in the development, construction, and retrofitting of new and emerging technologies. The original application deadline for the program was set for Oct. 1. 

According to information released by the USDA, the lender or borrower must generally submit to the agency a non-binding letter of intent to apply for a loan guarantee at least 30 calendar days prior to the application deadline. RBCS, however, at its discretion, may accept applications that do not submit a letter of intent. 

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Additional information is available on the Federal Register website

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