Much needed renewable energy grants and loans are available to small business owners and agricultural producers/farmers in the USVI!
The Rural Energy for America Program (REAP) offers Grants, Guaranteed Loans, and Combinations of Grants/Guaranteed Loans to help agricultural producers and rural, small businesses install renewable energy systems in rural areas. The grants and loans available are designed to assist with the installation of renewable energy system
Grant applications, applicants may obtain electronic grant applications for REAP from https://www.Grants.gov. Please submit information listed in both the NOFA & Application Template for full completion. These applications can be mailed or dropped off – if dropped off, TWO COPIES of paper applications need to be delivered to the Rural Development Office on St. Croix.
USDA Rural Development
4401 Sion Farm Suite#2
Christiansted, VI 00820
Please submit information listed in both the NOFA & Application Template for full completion.
DEADLINES
For renewable energy system and energy efficiency improvement grant applications and combination grant and guaranteed loan applications: July 7, 2014.
For renewable energy system and energy efficiency improvement guaranteed loan only applications: On a continuous basis up to July 31, 2014.
For all applications submitted under this Notice, complete applications must be received by the appropriate USDA Rural Development Office no later than 4:30 p.m. local time of the applicable application deadline date in order to be considered for Fiscal Year 2014 funds.
Contact rena.elias@pr.usda.gov to receive more information on the application process and to receive any of the following documents:
1. Information Sheet on the Business & Industry (B&I) Guaranteed Loan Program. This program is also lender driven, meaning you apply with lenders/bank that participate in our program. Financing can be up 100% of project costs. You can apply for this program all year round. The application for this program would be obtained directly from the lender.
2. Information Sheet on the Energy Efficiency and Renewable Energy Guaranteed Loan and/or Grant Programs under the Rural Energy for America Program (REAP), which is solely geared to Energy Improvements. The Renewable Energy Program and The Energy Efficiency Program, as you will read there is a loan component and a grant component to each of these programs. Each program would require its own application. There is no direct loan assistance available, which means that you would have to secure a lender to provide the financing and then that lender applies to USDA for the Guarantee on the loan. Max Grant is 25%. If it is a combo, the max assistance available is 75%. So, there would be a 25% match required
3. The Notification of Funding cycle for Fiscal Year 2014 -You can check this site periodically for updates on notices of funding, https://www.rurdev.usda.gov/RD_NOFAs.html Please submit information listed in both the NOFA & Application Template for full completion.
4. REAP Application Templates – Please use these templates for application submission, in conjunction with the NOFA.
5. List of Lenders, who have previously participated in the B&I Program and may also assist on REAP
6. Lender Guide – for B&I Program – if you are pursuing a loan, see lender requirements
7. Grant Writers – Statewide and Locally – who may assist in application preparation – use of grant writers are optional
8. CFRs Guide – Definition of Terms, Eligibility use of Grant funds, Eligible/Ineligible Applicants
We’ve listed one of our BNI Lender’s below. This particular lender has been very active in our B&I program in the last 8 years plus and their information is as follows:
Mr. Michael C. Sammartino
Director, Business Development
Independence Bank
1370 South Country Trail
East Greenwich, RI 02818
msammartino@independence-bank.com
main line – 401-471-6300
direct line – 401-471-6318
fax line – 401-884-9551