New Grants Available

1 decade 2 years 2 months ago Friday, March 23 2007 Mar 23, 2007 Friday, March 23, 2007 2:04:44 PM CDT March 23, 2007 in News

Through the program, the USDA helps rural businesses and farmers pay for energy-efficient projects with money left over for additional improvements.

"Banks or commercial lenders are reluctant to participate based on some of those uncertainties, so when we come along with a loan guarantee, we are effectively absorbing the majority of the risk in allowing the lender to proceed with that investment," said Moore.

In the past, Missourians have used the money to create the state's first biodeisel plant, as well as other energy efficient systems.

The grants can cover up to 25 percent of project costs, and loans can cover up to 50 percent, with a maximum of $10 million dollars.

"What we get out of it is knowing that we've promoted renewable energy and efficiency policy goals," said Moore.

Officials say the process is competitive, but worth applying.

Reported by Hannah Wooldridge

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