Food Supply Chain Guaranteed Loan Program
The Food Supply Chain Guaranteed Loan Program will make loan guarantees to lenders to facilitate financing to qualified borrowers and projects for the start-up or expansion of activities in the middle of the food supply chain, particularly the aggregation, processing, manufacturing, storage, transportation, wholesaling, or distribution of food.
General information about this opportunity
Last Known Status
Active
Program Number
10.380 Federal Agency/Office
Rural Business-Cooperative Service, Department of Agriculture Type(s) of Assistance Offered
F - Guaranteed/Insured Loans
Program Accomplishments
Not applicable. Authorization
American Rescue Plan Act of 2021, Section 1001 Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
Not applicable. Beneficiary Eligibility
Not applicable. Credentials/Documentation
Not applicable. What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is required. This program is eligible for coverage under E.O. 12372, "Intergovernmental Review of Federal Programs." An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review. Application Procedure
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Award Procedure
Complete applications will be processed, evaluated, and scored. For applications that are successful the lender will receive a Conditional Commitment outlining the conditions for which a Loan Note Guarantee will be issued. Deadlines
Not applicable.
Approval/Disapproval Decision Time
From 30 to 60 days. Appeals
From 30 to 60 days. Renewals
Not applicable. How are proposals selected?
Not applicable. How may assistance be used?
The Food Supply Chain Guaranteed Loan Program will make loan guarantees to lenders to facilitate financing to qualified borrowers and projects for the start-up or expansion of activities in the middle of the food supply chain, particularly the aggregation, processing, manufacturing, storage, transportation, wholesaling, or distribution of food. What are the requirements after being awarded this opportunity?
Reporting
Performance Reports: Project Performance Reports Auditing
Audited financial statements may be required. Records
Records relating to the loan are retained for 3 years. Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.Matching requirements are not applicable to this assistance listing.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Applications can be filed at any time, applications will continue to be received until funds are expended. Who do I contact about this opportunity?
Regional or Local Office
None/Not specified. Headquarters Office
PPD-Intermediary Programs Branch1400 Independence Ave. S.W.
Washington, DC 20250-3224 US
RBCS@usda.gov
Phone: 2027201400
Website Address
https://www.rd.usda.gov/foodsupplychainloans
Financial Information
Account Identification
12-0408-0-1-351 Obligations
(Guaranteed/Insured Loans) FY 22$100,000,000.00; FY 23 est $100,000,000.00; FY 24 est $0.00; FY 21$0.00; FY 20 - No funds are planned for this program after all current projects are completed. Range and Average of Financial Assistance
The maximum loan amount is $40 million. Regulations, Guidelines and Literature
Some parts of 7 CFR 5001 are cross referenced. Examples of Funded Projects
Not applicable.
