USDA RENEWABLE ENERGY FOR AMERICA PROGRAM (REAP)
Provides loan guarantees that promote energy efficiency and development of renewable energy for agricultural producers and rural small businesses.
Loan amounts up to $25 Million
Loan amount cannot exceed 75% of eligible project cost
Eligible Borrowers
Agricultural Producer: Individual or entity that receives 51% or more of their gross income from agricultural production, i.e. crops, livestock, aquaculture, forestry operations, nurseries, dairies
Rural Small Business: For-profit small business in a community with a population less than 50,000
Eligible Project Costs
- Equipment
- Purchase & installation
- New or refurbished
- Post-application construction & facility improvements
- Retrofitting
- Professional service fees
- Permits & license fees
- Working capital, land acquisition also processing agricultural products
Ineligible Project Costs
- Equipment
- Used Equipment
- Vehicles
- Pre-application construction & facility improvements
- Residential energy projects
- Line of credit
- Lease payments
- Payment to the applicant/business owner, beneficiary or relative