View all text of Subchapter XIV [§ 16501 - § 16503]
§ 16503. Sugar ethanol loan guarantee program
(a) In general
(b) Demonstration projects
(c) Requirements
An applicant for a loan guarantee under this section may provide assurances, satisfactory to the Secretary, that—
(1) the project design has been validated through the operation of a continuous process facility;
(2) the project has been subject to a full technical review;
(3) the project, with the loan guarantee, is economically viable; and
(4) there is a reasonable assurance of repayment of the guaranteed loan.
(d) Limitations
(1) Maximum guarantee
Except as provided in paragraph (2), a loan guarantee under this section—
(A) may be issued for up to 80 percent of the estimated cost of a project; but
(B) shall not exceed $50,000,000 for any 1 project.
(2) Additional guarantees
(A) In general
The Secretary may issue additional loan guarantees for a project to cover—
(i) up to 80 percent of the excess of actual project costs; but
(ii) not to exceed 15 percent of the amount of the original loan guarantee.
(B) Principal and interest
(Pub. L. 109–58, title XV, § 1516, Aug. 8, 2005, 119 Stat. 1091.)