The Rural Business-Cooperative Service of the USDA has announced an extension for the loan guarantee application deadline for the 9003 Program. This program supports the development of biorefineries, renewable chemicals, and biobased products with loan guarantees up to $250 million. Originally due on October 1, applications can now be submitted until December 31, 2024, at 4:30 p.m. Eastern Time. Despite requiring a non-binding letter of intent 30 days prior, exceptions can be made, and questions can be directed to the provided USDA contact information.
Simple Explanation
The USDA is giving more time for people to apply for big loans to help make new things like plant-based products and renewable chemicals, now until the end of December 2024, but it's not clear which projects can get the money or how they'll pick who gets it.