Transcript Florida’s Financial Options Jay Robinson, Manager Capital Programs, Enterprise Florida Louis Laubscher, COO, Enterprise Florida 11/6/2015

Florida’s Financial Options
Jay Robinson, Manager Capital
Programs, Enterprise Florida
Louis Laubscher, COO,
Enterprise Florida
11/6/2015
1
Florida’s Financing Options
Loan & Grant Programs
Jay Robinson
Manager, Capital Programs
Enterprise Florida
Phone - (407) 956-5607
Email - [email protected]
Florida Economic Development Council Presentation
June 23, 2011
Table of Contents
General Programs
3
Brownfield & Environmental Programs
9
Economic Development Programs
15
Energy Programs
18
Export Programs
26
Innovation Programs
32
Rural, Urban & Distressed Area Programs
39
3
General
Programs
4
Enterprise Bond Program
(Industrial Revenue Bonds)
Sponsoring Agency/Organization
Florida Development Finance Corporation (FDFC)
Program Overview
FDFC is a conduit issuer (not direct issuer) of tax-exempt, low interest bond financing to qualified, financially sound,
manufacturing and 501(c)(3) non-profit organizations. Bond proceeds may be used for capital expenditures, such as the
purchase of land, new long-term equipment, and building construction/renovations.
This program was designed to improve low cost capital availability to Florida’s manufacturers and non-profit companies
that qualify for tax exempt finance under IRS rules. If a transaction does not meet IRS qualifying rules for tax exempt
finance, it can be financed with taxable bonds through FDFC. For taxable transactions, IRS qualifying rules governing
tax exempt financing do not apply. The rates for taxable bond transactions are very competitive compared to other
financing instruments, such as conventional loans.
There is a $10,000,000 limit on tax-exempt bond issues for small manufacturers ($20,000,000 capital expenditure limit).
There is no bond issuance limit on qualifying tax-exempt bond issues for 501(c)3 organizations. Taxable bond issues
are not subject to bond issuance or capital expenditure limits. A $1,000,000 minimum bond issue is recommended to
achieve cost effectiveness Closing costs range from 2 – 5% based on size of the bond issuance.
Website & Contact
http://www.eflorida.com/ContentSubpage.aspx?id=7116
Jay Robinson – [email protected] or (407) 956-5607
5
SBA 504
Loan Program
Sponsoring Agency/Organization
Florida First Capital Finance Corporation (FFCFC) / U.S. Small Business Administration (SBA)
Program Overview
Working in conjunction with SBA, FFCFC offers the 504 Loan Program, providing long-term financing for:
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Acquiring land and buildings
Construction, modernization, expansion or renovation of existing facilities
Purchase of equipment and machinery
Banks are willing participants because they can fund as little as 50% of a project and still remain in a first-lien position.
FFCFC provides financing at a fixed, long-term rate for the next 40% of a project. The borrower is responsible for the
remaining 10% down payment. The FFCFC portion of the total project cost should not exceed $5.5 million.
Website & Contact
http://www.ffcfc.com
(888) 320-5504
6
7(a) Loan
Program
Sponsoring Agency/Organization
U.S. Small Business Administration (SBA)
Program Overview
The SBA 7(a) Program is the primary loan program provided by the SBA. A 7(a) loan guarantee is provided to lenders
to make them more willing to lend money to small businesses with perceived weaknesses in their loan applications. For
example, a business startup would not have cash flow history to provide a lender with assurance of continued ability to
pay back a loan, so the SBA 7(a) loan guarantee would provide the lender with an increased guaranty against default.
Repayment terms on the SBA 7(a) Program is usually up to 25 years for real estate, the purchase of large machinery /
equipment (fixed assets) and 5 - 10 years for working capital. The SBA will not provide a guarantee for loans used for
investment or speculative purposes.
When reviewing a loan package for possible SBA lending, a lender would like to see:
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Good credit (meaning no bankruptcies within the last 7 years, foreclosures, unpaid charged off accounts )
A well-written business plan and ability to repay the loan
Sufficient investment from the owner
Collateral (fixed assets, equipment, or real estate)
Contact
SBA does not provide these loans directly, but works with lenders to process applications.
7
Fund of Funds Program
(Venture Capital)
Sponsoring Agency/Organization
Florida Opportunity Fund (FOF)
Program Overview
FOF’s Fund of Funds Program was created to realize significant long-term capital appreciation by identifying and
investing in a diversified, high-quality portfolio of seed and early stage venture capital funds that target (in whole or in
part) investment opportunities within Florida. The Fund of Funds Program invests directly only in venture capital/angel
funds (no direct investment). The participating funds to date include:
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5 AM Ventures III, LP
Element Partners II, LP
Harbert Venture Partners II, LP
New Enterprise Associates 13, LP
Inflexion
Stonehenge
HIG BioVentures
www.5amventures.com
www.elementpartners.com
www.harbert.net
www.nea.com
www.inflexionvc.com
www.stonehengegrowthcapital.com
www.higbio.com
Website & Contact
http://www.floridaopportunityfund.com
Jennifer Dunham – [email protected]
8
Surety Bond
Guarantee Program
Sponsoring Agency/Organization
U.S. Small Business Administration (SBA)
Program Overview
A surety bond is a form of insurance that guarantees contract completion. The surety assures a successful contract,
because it assumes all financial obligations if the principal does not deliver. Any federal construction contract valued at
$100,000 or more requires a surety bond as a condition of contract award. Most state and municipal governments have
similar requirements. While the SBA does not issue surety bonds directly, it does work with agents to provide
guarantees for bid, performance, and payment bonds issued by participating surety companies. Business owners can
work with the SBA Office of Surety Guarantees to guarantee surety bonds. To be eligible for an SBA surety bond
guarantee:
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The business must be classified as small and unable to obtain a bond without an SBA guarantee;
The size of the public or private contract or subcontract cannot exceed $2 million;
The credit, capacity, and character evaluations of the company's principal must support issuance of a bond
guaranteed by SBA; and
The contract must require a bond to be eligible.
Website
http://www.sba.gov/category/navigation-structure/loans-grants/bonds/surety-bonds
9
Brownfield &
Environmental
Programs
10
Brownfield Areas
Loan Guarantee Program
Sponsoring Agency/Organization
Office of Trade, Tourism & Economic Development
Program Overview
This Program provides up to five (5) years of state loan guarantees for redevelopment projects in brownfield areas. The
loan guaranty applies to 50% of the primary lender loan. If the project is for affordable housing, the loan guaranty
applies to 75% of the lender loan.
Contact
Karl Blischke
(850) 922-8743
11
Brownfields
Cleanup Grants
Sponsoring Agency/Organization
U.S. Environmental Protection Agency (EPA)
Program Overview
EPA’s Cleanup Grants provide funding for a grant recipient to carryout cleanup activities at brownfield sites. Cleanup
funds may be used to address sites contaminated by petroleum and hazardous substances, pollutants, or contaminants
(including hazardous substances co-mingled with petroleum). Grants of up to $200,000 are available per site. No entity
may apply for funding cleanup activities at more than three sites. Cleanup Grants require a 20% cost share, which may
be in the form of a contribution of money, labor, material, or services, and must be for eligible and allowable costs.
Eligible Applicants
Eligible entities include:
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State, local and tribal governments, with the exception of certain Indian tribes in Alaska;
Land clearance authorities or other quasi-governmental entities;
Regional council or redevelopment agencies;
States or legislatures; and
Nonprofit organizations.
Website & Contact
http://www.epa.gov/brownfields/cleanup_grants.htm
12
Environmental
Insurance
Sponsoring Agency/Organization
U.S. Environmental Protection Agency (EPA)
Program Overview
EPA’s Environmental Insurance is a tool used to quantify and transfer risks related to brownfields cleanup costs and
liability from project stakeholders to an insurance company. The most common types of environmental insurance
policies available for brownfields include:
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Pollution liability -- Protects an insured against on-site cleanup costs of unknown, pre-existing pollution and
current pollution from ongoing operations, and third-party claims arising from pollution conditions (e.g., bodily
injury, property damage);
Cost cap -- Protects against cleanup costs exceeding the anticipated cost; and
Secured lender -- Protects a lender in the event that a borrower defaults on a loan and the default is
associated with a pollution condition.
Eligible Applicants
Policy holders can include property buyers, sellers, and intermediary owners (e.g., redevelopment authorities).
Website & Contact
http://www.epa.gov/brownfields/insurance/
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Florida Recycling
Loan Program
Sponsoring Agency/Organization
Florida First Capital Finance Corporation (FFCFC)
Program Overview
The Florida Recycling Loan Program, administered by FFCFC for the Florida Department of Environmental Protection,
provides below market financing for companies that manufacture products from recycled materials or convert recyclable
materials into raw materials for use in manufacturing. The Program offers funding for the purchase of machinery and
equipment at a fixed interest rate as low as 2% below the Prime Lending Rate for the life of the loan (up to 10 years).
The potential borrower is required to have an equity injection of 10% of the total amount of the loan.
Website & Contact
http://www.ffcfc.com
(888) 320-5504
14
Environmental
Exports Program
Sponsoring Agency/Organization
U.S. Export-Import Bank (Ex-Im Bank)
Program Overview
Financing by the Ex-Im Bank Environmental Exports Program helps to mitigate risk for U.S. environmental companies
and offers competitive financing terms to international buyers for the purchase of U.S.-made environmental goods and
services.
Eligible Project Types
Ex-Im Bank's active portfolio includes financing for U.S. exports of:
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Renewable energy equipment and energy efficiency technologies;
Wastewater treatment projects and waste management services;
Air pollution technologies; and
Other various environmental goods and services.
Website & Contact
http://www.exim.gov/products/policies/environment/index.cfm
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Economic
Development
Programs
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Revolving Loan
Fund Program (RLF)
Sponsoring Agency/Organization
U.S. Economic Development Administration (EDA)
Program Overview
EDA regional offices award competitive grants to units of local government, state governments, institutions of higher
education, public or private non-profit organizations, approved economic development district organizations, and Indian
tribes to establish Revolving Loan Funds (RLFs). EDA's RLF recipient, in turn, disburses money from the RLF to make
loans at interest rates that are at or below market rate to small businesses or businesses that cannot otherwise borrow
capital. As the loans are repaid, the grantee uses a portion of interest earned to pay administrative expenses and adds
remaining principal and interest repayments to the RLF's capital base to make new loans.
Eligible Project Types
EDA RLFs must support for-profit businesses, although the applicant can be a municipality or township on behalf of forprofit economic development projects. The loans may be used for the acquisition of land and depreciable fixed assets
such as buildings, building renovations, and equipment.
Website & Contact
http://www.eda.gov/PDF/RLFStaffContacts.pdf
17
Research and
Evaluation Program
Sponsoring Agency/Organization
U.S. Economic Development Administration (EDA)
Program Overview
EDA's Research and Evaluation Program supports research of cutting-edge economic development practices and
information dissemination efforts to national audiences. EDA's Research and Evaluation Program is carried out through
investments and cooperative agreements, as well as through studies conducted in-house by EDA research staff.
Awards generally range between $100K and $400K.
Eligible Project Types
Current funding priorities include proposals that enhance regional competitiveness by focusing on entrepreneurship and
innovation strategies. EDA will select proposals competitively based on strategic areas of interest and priority
considerations identified in the applicable FFO. EDA also may consider the degree to which a proposed project:
– Has strong organizational leadership;
– Advances productivity, innovation, and entrepreneurship;
– Looks beyond the immediate economic horizon, anticipates economic changes, and diversifies the local and
regional economy; and
– Demonstrates a high degree of local commitment.
Website & Contact
http://www.eda.gov/InvestmentsGrants/Programs.xml
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Energy
Programs
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Clean Energy Investment Program
(Venture Capital)
Sponsoring Agency/Organization
Florida Opportunity Fund (FOF)
Program Overview
FOF’s Clean Energy Investment Program was created to promote the adoption of energy efficient or renewable energy
(EE/RE) products and technologies in Florida by providing funding to businesses to increase the use of EE/RE
technologies, equipment and materials in the State. The Program will target funding opportunities ranging from
$500,000 to $5 million. A matching private investment is required. Examples of possible structures for funding
opportunities include project financing, asset-based lending, mezzanine financing and equity investments. The
Program’s Focus Areas for investment are:
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Facility and Equipment Improvement – Implementing, expanding, upgrading or demonstrating energy
efficient products, equipment and materials for use by companies in their existing facilities and buildings in
Florida.
Renewable Energy Products – Acquiring, upgrading or demonstrating small-scale renewable energy
products, equipment and materials for use by companies in their operations in Florida.
Process Improvement – Determining potential energy efficiencies and then executing actions to reduce
consumption or increase the efficient use of energy in existing production, manufacturing, assembly or
distribution processes, including the purchase of equipment and materials to make processes more energy
efficient.
Website & Contact
http://www.floridaopportunityfund.com
Jennifer Dunham – [email protected]
20
Biorefinery Assistance Loan
Guarantee Program
Sponsoring Agency/Organization
U.S. Dept. of Agriculture (USDA)
Program Overview
The purpose of USDA's Biorefinery Assistance Loan Guarantee Program is to assist in the development of new and
emerging technologies for the development of advanced biofuels via loan guarantees. The maximum loan guarantee is
$250 million. Mandatory funding is available through FY 2012. Eligible program technologies include:
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Technology that is being adopted in a viable commercial-scale operation of a biorefinery that produces an
advanced biofuel; and
Technology demonstrated to have technical and economic potential for commercial application in a
biorefinery that produces an advanced biofuel.
Website
http://www.rurdev.usda.gov/rbs/busp/baplg9003.htm
Contact
Joseph Mueller
(352) 338-3482
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Rural Energy for America Program
Guaranteed Loan Program (REAP)
Sponsoring Agency/Organization
U.S. Dept. of Agriculture (USDA)
Program Overview
USDA’s REAP encourages the commercial financing of renewable energy (bioenergy, geothermal, hydrogen, solar,
wind, and hydro power) and energy efficiency projects. Under the Program, project developers will work with local
lenders, who, in turn, can apply to USDA for a loan guarantee up to 85% of the loan amount.
Eligible Uses
Borrowers must be an agricultural producer or rural small business. Eligible uses of REAP loan funds include:
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Post-application purchase and installation of equipment;
Post-application construction or improvements;
Feasibility studies and technical reports;
Land acquisition and construction of a new energy efficient facility only when the facility , based on an
energy audit, will provide more energy savings than improving an existing facility.
Website & Contact
http://www.rurdev.usda.gov/BCP_ReapLoans.html
Joseph Mueller
(352) 338-3482
22
Section 1703 Loan
Guarantee Program
Sponsoring Agency/Organization
U.S. Department of Energy (DOE)
Program Overview
Section 1703 of Title XVII of the Energy Policy Act of 2005 authorizes the DOE to support innovative clean energy
technologies that are typically unable to obtain conventional private financing due to high technology risks. In addition,
the technologies must avoid, reduce, or sequester air pollutants or anthropogenic emissions of greenhouse gases.
Eligible Project Types
Technologies considered for Section 1703 loan guarantees include:
Biomass
Hydrogen
Solar
Wind/hydropower
Nuclear
Carbon sequestration practices/technologies
Pollution control equipment
Industrial energy efficiency projects
Alternative fuel vehicles
Website & Contact
https://lpo.energy.gov/?page_id=39
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Advanced Technology Vehicles
Manufacturing Loan Program
(ATVM)
Sponsoring Agency/Organization
U.S. Department of Energy (DOE)
Program Overview
DOE’s ATVM consists of direct loans to support the development of advanced technology vehicles and associated
components in the United States.
The ATVM Loan Program provides loans to automobile and automobile parts manufacturers for the cost of reequipping,
expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or
qualified components, and for associated engineering integration costs. In 2010, the Program was amended to include
ultra-efficient vehicles within the definition of advanced technology vehicles.
Website & Contact
http://lpo.energy.gov/?page_id=43
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Industrial Technologies
Program (ITP)
Sponsoring Agency/Organization
U.S. Department of Energy (DOE)
Program Overview
DOE’s ITP is the lead government grant and loan program working to increase the energy efficiency of U.S. industry,
which accounts for about one-third of U.S. energy use. The ITP is intended to help research, develop, and deploy
innovative technologies that companies can use to improve their energy productivity, reduce carbon emissions, and
gain a competitive edge. ITP conducts activities in the following two areas:
– Research & development -– ITP provides cost-shared funding to develop transformational industry
technologies in collaboration with industry, academia, and DOE national labs; and
– Technical assistance –- ITP offers technical assistance to state and local stakeholders, utilities, universities,
trade associations, non-profits, and others.
Eligible Project Types
ITP-funded R&D projects are selected based on criteria emphasizing potential energy, environmental, and economic
benefits. The DOE issues competitive solicitations for cost-shared R&D via its solicitations webpage noted below.
Website & Contact
http://www1.eere.energy.gov/industry
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Office of Energy Efficiency and
Renewable Energy (EERE)
Unsolicited Proposals
Sponsoring Agency/Organization
U.S. Department of Energy (DOE)
Program Overview
An unsolicited proposal is an application for financial assistance that is not submitted at the request of EERE or in
response to a solicitation announcement. Unsolicited proposals are submitted solely at the discretion of the proposer.
Financial assistance from the DOE’s EERE is awarded on a competitive basis, however, financial assistance can be
awarded on a noncompetitive basis through the unsolicited proposal program.
Eligible Project Types
Unsolicited proposals will be accepted from businesses, universities, and others. Unsolicited proposals may be selected
for funding if they:
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Demonstrate a unique and innovative concept or a unique capability;
Offer a concept or service not otherwise available to the government;
Do not resemble recent, current, or pending competitive solicitations; or
Independently originate with the proposer without government supervision.
Website & Contact
http://www1.eere.energy.gov/financing/unsolicited_proposals.html
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Export
Programs
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Export Direct Loans &
Export Loan Guarantees
Sponsoring Agency/Organization
Florida Export Finance Corporation (FEFC)
Program Overview
FEFC was created to expand the export of goods and services by Florida’s small- and medium-sized businesses.
FEFC may provide direct loans for the lesser of 90% of the product cost or $50,000. Additionally, FEFC may provide
loan guarantees for the lesser of 90% of the loan or $500,000. Loan proceeds may be used for pre-export working
capital and/or post-export receivables financing. The following requirements must apply:
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Shipment must be from Florida.
Products do not have to be made in Florida.
Must be a small/medium sized Florida company.
Must have received a turndown from conventional lender or apply jointly with a lender.
Website
http://www.dos.state.fl.us/fefc/
Contact
Stephen Fancher
[email protected]
(786) 845-0400
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Working Capital
Loan Program
Sponsoring Agency/Organization
U.S. Export-Import Bank (Ex-Im Bank)
Program Overview
Ex-Im Bank’s working capital financing enables U.S. exporters to obtain loans that facilitate the export of goods or
services. These working capital loans, made by commercial lenders and backed by the Ex-Im Bank's guarantee,
provide exporters with the liquidity to accept new business, grow international sales, and compete more effectively in
the international marketplace.
Eligible Project Types
Exporters may use the guaranteed financing to:
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Purchase finished products for export;
Pay for raw materials, equipment, supplies, labor, and overhead to produce goods and/or provide services
for export; or
Finance foreign receivables.
Website & Contact
www.exim.gov
(305) 526-7436
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Loan
Guarantee Program
Sponsoring Agency/Organization
U.S. Export-Import Bank (Ex-Im Bank)
Program Overview
Ex-Im Bank’s Loan Guarantee Program assists exporters by guaranteeing term financing to creditworthy international
buyers, both private and public sector, for purchases of U.S. goods and services. With Ex-Im Bank’s loan guarantee,
international buyers are able to obtain competitive term financing from lenders when financing is otherwise not available
or there are no economically viable interest rates on terms over one-to-two years. Loan guarantees to an international
buyer are generally used to finance purchases of U.S. capital equipment and services.
Website & Contact
www.exim.gov
(305) 526-7436
30
Export
Credit Insurance
Sponsoring Agency/Organization
U.S. Export-Import Bank (Ex-Im Bank)
Program Overview
Ex-Im Bank’s Export Credit Insurance allows U.S. businesses to increase export sales by limiting international risk,
offering credit to international buyers, and enabling access to working capital funds.
Eligible Project Types
Eligibility varies based on insurance type:
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Short-Term Insurance –- Products must be shipped from the United States and have at least 50 % U.S.
content (excluding mark-up);
Medium-Term Insurance –- We will insure up to 85% of the net U.S. contract value (if the foreign content is
more than 15% Ex-Im supports only the U.S. portion).
Website & Contact
http://www.exim.gov/products/insurance/index.cfm
(305) 526-7436
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Medical Equipment
Initiative (MEI)
Sponsoring Agency/Organization
U.S. Export-Import Bank (Ex-Im Bank)
Program Overview
Ex-Im Bank’s Medical Equipment Initiative (MEI) offers loan guarantees to increase the export of medical equipment
from U.S. companies to foreign borrowers that would not go forward without Ex-Im Bank support.
Eligible Project Types
Eligible MEI borrowers will be:
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Established companies that represent unacceptable credit risk; and
Newly-formed companies that do not have analyzable historical credit data.
Website & Contact
http://www.exim.gov/products/special/medicalequip.cfm
(305) 526-7436
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Innovation
Programs
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Small Business Innovation
Research Program (SBIR)
Sponsoring Agency/Organization
U.S. Small Business Administration (SBA)
Program Overview
SBIR is designed to ensure that small businesses compete for federal research and development awards. Eleven
federal departments participate in SBIR, awarding $2 billion annually to small high-tech businesses. Small businesses
that receive awards then begin a three-phase program:
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Phase I is the startup phase. Awards of up to $100,000 for approximately six months support exploration of
the technical merit or feasibility of an idea or technology;
Phase II offers awards of up to $750,000, for as many as two years, to expand Phase I results. During this
time, the R&D work is performed and the developer evaluates commercialization potential. Only Phase I
award winners are considered for Phase II; and
Phase III is the period during which Phase II innovation moves from the laboratory into the marketplace. No
SBIR funds support this phase. The small business must find funding in the private sector or other non-SBIR
federal agency funding.
Website
http://www.sba.gov/content/small-business-innovation-research-program-sbir
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Phase 0
Pilot Program
Sponsoring Agency/Organization
Enterprise Florida
Program Overview
The Phase 0 Pilot Program is intended to help Florida companies increase their chances of submitting a successful
Small Business Innovation Research (SBIR) proposal. The Program reimburses up to $3,000 for eligible expenses
related to the preparation of SBIR proposals. Eligible expenses include:
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Consulting fees supporting technology development, commercialization strategies or proposal review.
Other professional fees (e.g. legal, accounting) directly related to the proposal.
Travel expenses incurred to visit the federal agency or laboratory potentially sponsoring the technology, or to
attend regional or national SBIR conferences.
Reproduction of the proposal and preparation materials.
Other out-of-pocket costs directly related to preparing the proposal, including fees for market studies or
technical database research.
Eligible applicants includes companies which:
– Are a client of a participating Florida Technology Incubator, University Technology Transfer Office,
Economic Development Organization, or Small Business Development Center (see list of participants on the
website below), or
– Are recommended by a partner serving as the point of contact for a Florida county, and
– Intends to submit a proposal for a specific SBIR solicitation,
Website & Contact
http://www.eflorida.com/Why_Florida.aspx?id=8804
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Construction
Grant Program
Sponsoring Agency/Organization
U.S. Dept. of Commerce (DOC)
Program Overview
DOC’s National Institute of Standards and Technology (NIST) Construction Grant Program (NCGP) provides
competitively awarded, cost-shared grants for the construction of new science research buildings or the expansion of
existing buildings, including laboratories, test facilities, measurement facilities, research computing facilities, and
observatories.
Proposed projects must complement the research goals of one or more of DOC’s three science agencies: NIST, the
National Oceanic and Atmospheric Administration (NOAA), and the National Telecommunications and Information
Administration (NTIA). These agencies conduct research in measurement science, engineering, oceanography,
telecommunications, and atmospheric research. Non-federal cost sharing of at least 20% of the yearly total allowable
project costs is required.
Eligible Applicants
U.S. institutions of higher education and nonprofit science research organizations are eligible to apply.
Website & Contact
http://www.nist.gov/director/ncgp/index.cfm
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Development
Innovation Ventures (DIV)
Sponsoring Agency/Organization
U.S. Agency for International Development (USAID)
Program Overview
USAID brings together diverse innovators from academia, the private sector and NGOs to identify, develop, and
transition to scale promising approaches to pressing development problems around the world. DIV encourages
entrepreneurs, innovators, businesses, academics, NGOs, and others to submit proposals for cost-saving development
solutions. DIV provides funding at three stages or levels. Applicants can apply at any stage, and those who have
received funding at a prior stage do not automatically advance to the next stage.
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Stage 1 focuses on proof of concept and projects must demonstrate that their innovative solution costeffectively addresses core development challenges and has the potential for mainstream adoption.
Stage 2 focuses on testing and rigorous evidence collection, and projects must demonstrate clear evidence
cost-effective development impact for thousands of people.
Stage 3 focuses on transitioning to scale proven solutions, and projects must demonstrate costeffectiveness, the ability to be scaled widely to millions of beneficiaries across multiple countries, and
leverage.
USAID/DIV expects its most successful of investments will have an accelerated growth path to reach tens of millions of
beneficiaries worldwide within 10 years. The maximum award amount is $15 million.
Website & Contact
http://www.usaid.gov/div/
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Technology Innovation
Program (TIP)
Sponsoring Agency/Organization
U.S. Dept. of Commerce (DOC)
Program Overview
The U.S. Department of Commerce's (DOC) National Institute of Standards and Technology (NIST) Technology
Innovation Program (TIP) supports, promotes, and accelerates innovation in the United States through high-risk, highreward research in areas of critical national need. In 2010, TIP funded projects focused on technologies that could
significantly improve manufacturing processes for advanced materials such as nanocomposites in biomanufacturing,
which produces vaccines and other biopharmaceuticals.
TIP is a merit-based, competitive program that provides cost-shared funding for research projects by single small- or
medium-sized businesses, or by joint ventures that can include higher education institutions, nonprofit research
organizations, and national laboratories. TIP awards are limited to no more than $3 million over three years for a single
company project and no more than $9 million over five years for a joint venture.
Eligible Applicants
Eligible users of TIP funds include small- or medium-sized businesses, or joint ventures that can include higher
education institutions, nonprofit research organizations, and national laboratories.
Website & Contact
http://www.nist.gov/tip/
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National Security
Sponsoring Agency/Organization
Defense Advanced Research Projects Agency (DARPA)
Program Overview
DARPA’s mission is to maintain the technological superiority of the U.S. military and prevent technological surprise from
harming our national security by sponsoring revolutionary, high-payoff research bridging the gap between fundamental
discoveries and their military use.
DARPA entertains innovative research proposals of interest to its Information Innovation Office (I2O). Proposed
research should investigate innovative approaches that enable revolutionary advances in science, devices, or systems.
Specifically excluded is research that results primarily in evolutionary improvements to the existing state of the art.
The number of awards possible and the amount of resources made available will depend on the quality of the proposals
received and the availability of funds. The awards could take the form of procurement contracts, grants, cooperative
agreements or other transactions. Awards are made to proposers whose proposals are determined to be the most
advantageous and provide the best value to the U.S. Government, all factors considered, including the potential
contributions of the proposed work, overall funding strategy, and availability of funding for the effort.
Website & Contact
http://www.darpa.mil
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Rural, Urban and
Distressed Area
Programs
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Business and Industry
Guaranteed Loan (B&I) Program
Sponsoring Agency/Organization
U.S. Dept. of Agriculture (USDA)
Program Overview
The purpose of USDA's Business and Industry Guaranteed Loan (B&I) Program is to improve, develop, or finance
business, industry, and employment and improve the economic and environmental climate in rural communities. It is not
intended that the guarantee authority will be used for marginal or substandard loans or for relief of lenders having such
loans. Unless otherwise approved, the total amount of USDA-guaranteed loans to one borrower must not exceed $10
million.
Eligible Project Types
Eligible loan purposes include (but are not limited to) the following:
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Business and industrial acquisitions when the loan will keep the business from closing, prevent the loss of
employment opportunities, or provide expanded job opportunities;
Business conversion, enlargement, repair, modernization, or development;
Purchase and development of land, easements, rights-of-way, buildings, or facilities; and
Purchase of equipment, leasehold improvements, machinery, supplies, or inventory.
Website & Contact
http://www.rurdev.usda.gov/BCP_gar.html
Joseph Mueller
(352) 338-3482
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Rural Economic Development
Loan and Grant Program (REDLG)
Sponsoring Agency/Organization
U.S. Dept. of Agriculture (USDA)
Program Overview
REDLG provides funding to rural projects through local utility organizations under two specific programs:
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Under the REDLoan Program, USDA provides zero interest loans to local utilities which they, in turn, pass
through to local businesses (ultimate recipients) for projects that will create and retain employment in rural
areas. The ultimate recipients repay the lending utility directly. The utility is responsible for repayment to the
Agency.
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Under the REDGrant Program, USDA provides grant funds to local utility organizations which use the
funding to establish revolving loan funds. Loans are made from the revolving loan fund to projects that will
create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to the Agency.
Website
http://www.rurdev.usda.gov/BCP_redlg.html
Contact
Joseph Mueller
(352) 338-3482
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High Energy Cost
Grant Program
Sponsoring Agency/Organization
U.S. Dept. of Agriculture (USDA)
Program Overview
USDA’s High Energy Cost Grant Program provides financial assistance for the improvement of energy generation,
transmission, and distribution facilities serving eligible rural communities with home energy costs that are over 275% of
the national average. The grant project must serve an eligible extremely high energy cost community by improving
energy generation, transmission, or distribution facilities serving an eligible community.
Eligible Project Types
Eligible users include businesses and governments. Grants under this program may be used for the acquisition,
construction, installation, repair, replacement, or improvement of energy generation, transmission, or distribution
facilities in communities with extremely high energy costs. Examples of eligible activities include:
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Acquisition, construction, replacement, repair, or improvement of:
Electric generation, transmission, and distribution facilities, equipment, and materials, including associated
and supporting activities -- land or right of way acquisition, engineering and professional expenses permitting
costs;
Renewable energy facilities and systems used for on-grid or off-grid electric power generation, water or
space heating, or process heating and power
Website & Contact
http://www.usda.gov/rus/electric/hecgp/index.htm
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Rural Business Enterprise Grant
(RBEG) Program
Sponsoring Agency/Organization
U.S. Dept. of Agriculture (USDA)
Program Overview
USDA's Rural Business Enterprise Grant (RBEG) Program provides grants for rural projects that finance and facilitate
development of small and emerging rural businesses, help fund business incubators, and help fund employment-related
adult education programs. While RBEG has no maximum level of grant funding, higher priority is given to smaller
projects, with grants generally ranging from $10,000 to $500,000. The Program defines as rural any area other than a
city or town with a population over 50,000 and the urbanized area contiguous and adjacent to such a city or town
according to the latest decennial census. Any project funded under RBEG should benefit small and emerging private
businesses in rural areas. Small and emerging private businesses are defined as those that will employ 50 or fewer
new employees and have less than $1 million in projected gross revenues.
Eligible Project Types
Rural public entities (towns, communities, state agencies, and authorities) and rural private non-profit corporations are
eligible to apply for funding.
Website
http://www.rurdev.usda.gov/BCP_gar.html
Contact
Joseph Mueller
(352) 338-3482
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Rural Energy for America Program
Grants/Energy Audit and
Renewable Energy Development
Assist (REAP/EA/REDA)
Sponsoring Agency/Organization
U.S. Dept. of Agriculture (USDA)
Program Overview
REAP/EA/REDA will provide grants for energy audits and renewable energy development assistance. The grants are
awarded on a competitive basis and can be up $100,000. Recipients of an energy audit are required to pay at least
25% of the cost of the audit.
Energy audits and renewable energy development assistance will allow rural small businesses to become more energy
efficient and use renewable technologies. For all projects, the system must be located in a rural area, must be
technically feasible, and must be owned by the applicant.
Website
http://www.rurdev.usda.gov/rbs/busp/REAPEA.htm
Contact
Joseph Mueller
(352) 338-3482
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Section 108 Loan
Guarantee Program
Sponsoring Agency/Organization
U.S. Dept. of Housing & Urban Affairs (HUD)
Program Overview
Section 108 is the loan guarantee provision of the Community Development Block Grant (CDBG) Program. Section 108
provides communities with a source of financing for economic development, housing rehabilitation, public facilities, and
large-scale physical development projects. It allows local governments to transform a small portion of their CDBG funds
into federally guaranteed loans large enough to pursue physical and economic revitalization projects that can renew
entire neighborhoods. Section 108 loans are not risk-free, however; local governments borrowing funds guaranteed by
Section 108 must pledge their current and future CDBG allocations to cover the loan amount as security.
Eligible Project Types
Activities eligible for Section 108 financing include:
– Economic development activities eligible under CDBG;
– Acquisition of real property;
– Rehabilitation of publicly owned real property;
– Construction, reconstruction, or installation of public facilities (including street, sidewalk, and other site
improvements);
Website & Contact
http://www.hud.gov/offices/cpd/communitydevelopment/programs/108/
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Public Works and Economic
Development Program
Sponsoring Agency/Organization
U.S. Economic Development Administration (EDA)
Program Overview
EDA's Public Works and Economic Development Program provides distressed communities grants for the construction
or rehabilitation of essential public infrastructure and facilities needed to generate or retain private sector jobs and
investments, attract private sector capital and promote regional competitiveness. Generally, the EDA grant amount may
not exceed 50% of the total project cost.
EDA allocated $133,280,000 for the Public Works and Economic Development Facilities Program in FY 2010. The
average size of a Public Works investment was approximately $1.7 million, though investments ranged in size from
$500,000 to $2,000,000.
Eligible Project Types
Entities eligible to apply for EDA's Public Works and Economic Development Program grants are:
– State, county, and city governments;
– Colleges and Universities; and
– Nonprofit organizations
Website
http://www.eda.gov/InvestmentsGrants/PublicWorks.xml
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Economic Adjustment
Assistance Program (EAA)
Sponsoring Agency/Organization
U.S. Economic Development Administration (EDA)
Program Overview
EAA provides a wide range of construction and non-construction assistance, including public works, technical
assistance, strategies, and revolving loan fund (RLF) projects, in regions experiencing severe economic dislocations
that may occur suddenly or over time. EAA can assist state and local economic development partners in three ways:
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Strategic Planning
Infrastructure Development
Financing
EDA allocated $38,620,000 to EAA in FY 2010. The average size of an EAA investment was approximately $550,000,
though investments ranged from $100,000 to $1,250,000. Generally, the EAA grant amount may not exceed 50% of
the total project cost.
Website & Contact
http://www.eda.gov/InvestmentsGrants/Programs.xml
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Questions?
Jay Robinson
Manager, Capital Programs
(407) 956-5607
[email protected]
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