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Handbook


American Recovery and Reinvestment Act Program Guide
 
Rural Business & Industry Guaranteed Loans Program
Progress Indicator
Checked Checked Not Checked Not Checked
Guidance Available Application Processes Open Application Processes Closed Award Processes Completed
 
Federal Program Information
Federal Program Description Program objectives include the improvement of rural employment, and to develop or finance rural businesses. This is accomplished by bolstering the existing credit structure via loan guarantees. This program is also known as the rural business and industry program. Funds may be used to purchase a business slated to close, buy equipment, buildings or land, prevent loss of employment opportunities, or expand employment opportunities.
Rural Development’s B& I Guaranteed Loan Program provides additional funds to lenders in connection with program’s purpose to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rural communities. This will be achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide lasting community benefits.
CFDA Number 10.768
Assistance Type Guaranteed/Insured Loans
ARRA Citation Division I, Title A, of the Recovery Act
ARRA Reporting
Federal Agency Department of Agriculture
 
NYS Information
NYS Program Title NA - federal program
NYS Agency ESDC
Contact Kay Wilkie
Email kwilkie@empire.state.ny.us
Phone 518-292-5270
 
Program Funding
National Total $3 billion
NYS Share NA
Flow of Funds To request application materials under this authority, please contact your local Rural Development Office for assistance. You can also click on the preliminary rural area eligibility determination for the program. Final eligibility determinations are made by the State Rural Development Offices. RD Office Locater
http://www.rurdev.usda.gov/ny/toolbarpages/pressreleasepages/ARRA/ARRA2.htm
 
Deadline Funds available under this authority through September 30, 2010.
 
Awards and Outcomes
Website http://www.recovery.gov/transparency/pages/home.aspx?State=NY