USDA to provide loan guarantees for biorefineries, biobased products

The U.S. Department of Agriculture (USDA) is accepting applications for loan guarantees of up to $250 million as part of its Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program. 

Previously known as the Biorefinery Assistance Program, the new program will provide funding to construct and retrofit commercial-scale biorefineries, and to develop renewable chemicals and biobased product manufacturing facilities.

"This critical financing will enhance our efforts to build a robust, rural bioeconomy by helping to expand the availability of biobased products and to increase the number of commercial-scale biorefineries in the country," USDA Secretary Tom Vilsack said. "In addition to the available funding, I am proud to announce that USDA has significantly improved the biorefinery program to help create lasting job opportunities in rural America."

Two funding cycles will be held. The deadline to apply for the first round is Oct. 1. Applications for the second round must be completed by April 1, 2016. 

Information on the application process can be found on page 38432 of the July 6 Federal Register. 

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U.S. Department of Agriculture

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