$400 Million Available in USDA Renewable Energy Loan Guarantees

The Department of Agriculture has more than $400 million available in loans for renewable energy projects, and Acting Assistant to the Secretary for Rural Development Joel Baxley is encouraging farmers and rural small businesses to apply for the financing.

The funding provides loan guarantees to help rural small businesses lower their energy costs through renewable energy. The funds are available through USDA’s Rural Energy for America Program, known as REAP.

Baxley calls the program “an important tool to help strengthen and grow the rural economy.” USDA accepts applications for REAP funding year-round. The funding can be used for renewable energy systems such as anaerobic digesters, biomass, geothermal, hydropower, wind and solar. It also can be used to make energy efficiency improvements to heating, ventilation and cooling systems, including insulation, and lighting and refrigeration.

USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. Anyone interested should contact their USDA Rural Development office for additional information.