Read the Federal Register Notice.
SUMMARY: Rural Business-Cooperative Service (RBS), an Agency within the United States Department of Agriculture (USDA) Rural Development, announces it is accepting applications for fiscal year (FY) 2008 to purchase renewable energy systems and make energy efficiency improvements for agriculture producers and rural small businesses in eligible rural areas. Funding will be available in the form of grants and loan guarantees. In addition to stand-alone grants and loan guarantees, applicants may apply for combination loan guarantee and grant funding (combination package).
For renewable energy systems, the minimum grant is $2,500 and the maximum is $500,000. For energy efficiency improvements, the minimum grant is $1,500 and the maximum is $250,000. Funding for grant and loan combination packages will be funded from the same allocation as loan guarantees. Fifty percent of the appropriated grant funding will be reserved for the first grant-only competition. Any unused grant only funds from the first competition will be made available for the second grant-only competition.
The maximum amount of a guarantee to be provided to a borrower will be $10 million. Fo FY 2008, the guarantee fee amount is 1 percent of the guaranteed portion of the loan and the annual renewal fee is 0.250 percent (one quarter of one percent) of the guaranteed portion of the loan.
For FY 2008, the following are the funds provided by Congress for the Section 9006 program: For grants, $15,888,000, and for loans, $204,953,560.
DATES: For the first competitive window, complete (see 7 CFR 4280.111) grant only applications, must be submitted to the appropriate USDA Rural Development State Office no later than April 15, 2008. For the second competitive window, complete (see 7 CFR 4280.111) grant-only applications must be submitted to the appropriate USDA Rural Development State Office no earlier than April 16, 2008, and no later than June 16, 2008.
Complete guaranteed loan applications will be accepted and processed, until June 16, 2008, in a rolling application manner. Applications for loan guarantees must be completed and submitted to the appropriate USDA Rural Development State Office no later than June 16, 2008. No application received in the State Office after June 16, 2008, will be considered.
Complete combination packages will be accepted and processed, until June 16, 2008. Once funds become available, combination packages will be evaluated on a bi-weekly basis. Combination applications must be completed and submitted to the appropriate USDA
Rural Development State Office no later than June 16, 2008. No application received after June 16, 2008, will be considered.
For more information on Farm Bill Section 9006: Renewable Energy and Energy Efficiency Program, visit http://www.rurdev.usda.gov/rbs/farmbill/index.html.