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USDA AWARDS $97 MILLION FOR RENEWABLE ENERGY PROJECTS

Friday, August 24, 2007 - 7:00AM

The U.S. Department of Agriculture (USDA) this week announced the award of $97 million in guaranteed loans to help businesses in Georgia, Illinois and North Carolina create jobs and develop renewable energy systems. The funding was made available through USDA's Renewable Energy and Energy Efficiency (Section 9006) guaranteed loan program and the Business and Industry (B&I) guaranteed loan program. The Section 9006 program provides financial assistance to agricultural producers and rural small businesses to install renewable energy projects or make energy efficiency improvements. USDA says the B&I program complements the existing private credit structure by guaranteeing loans that will provide lasting community and economic benefits, such as for business expansions.

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