What are the applicable fees for the loan guarantee? Variable interest rates may not be adjusted more often than quarterly.Interest rates are negotiated between the lender and borrower.What are the interest rates for the loan guarantee? The lender, with Agency concurrence, will establish and justify the guaranteed loan term based on the use of guaranteed loan funds, the useful economic life of the assets being financed and those used as collateral, and the borrower’s repayment ability. REAP loans approved in Fiscal Year 2023 will receive an 80 percent guarantee. The loan guarantee percentage is published annually in a Federal Register notice. What is the maximum amount of a loan guarantee? Combined grant and loan guarantee funding up to 75% of total eligible project costs.Grants for up to 50 percent of total eligible project costs.Loan guarantees on loans up to 75 percent of total eligible project costs.Replacement of energy-inefficient equipment.Įnergy Efficiency Improvement applications must contain an Energy Audit, or Energy Assessment (depending on Total Project Costs) that complies with Appendix A to RD Instructions 4280-BĪgricultural producers may also use guaranteed loan funds to install energy efficient equipment and systems for agricultural production or processing.Switching from a diesel to electric irrigation motor.Electric, solar or gravity pumps for sprinkler pivots.High efficiency heating, ventilation and air conditioning systems (HVAC).Ocean (tidal, current, thermal) generation.įunds may also be used for the purchase, installation and construction of energy efficiency improvements, such as:.
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