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American Recovery and Reinvestment Act Program Guide
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Rural Business & Industry Guaranteed Loans Program
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| Progress Indicator |
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| Guidance Available |
Application Processes Open |
Application Processes Closed |
Award Processes Completed |
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| 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.
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| CFDA Number |
10.768 |
| Assistance Type |
Guaranteed/Insured Loans |
| ARRA Citation |
Division I, Title A, of the Recovery Act |
| ARRA Reporting |
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| Federal Agency |
Department of Agriculture |
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| NYS Information |
| NYS Program Title |
NA - federal program |
| NYS Agency |
ESDC |
| Contact |
Kay Wilkie |
| Email |
kwilkie@empire.state.ny.us |
| Phone |
518-292-5270 |
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| 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
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| Deadline |
Funds available under this authority through September 30, 2010. |
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| Awards and Outcomes |
| Website |
http://www.recovery.gov/transparency/pages/home.aspx?State=NY |
