TRIBAL ENERGY LOAN GUARANTEE PROGRAM. To learn more, read our reality sheet.
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The Tribal Energy Loan Guarantee Program (TELGP) is a loan that is partial system that will guarantee as much as $2 billion in loans to guide financial possibilities to tribes through power development tasks and tasks. Under this solicitation, DOE can guarantee up to 90 % of this principal that is unpaid interest due on any loan designed to a federally recognized Indian tribe or Alaska Native Corporation for power development. The borrower that is tribal have to spend equity within the task and all sorts of task financial obligation may be given by non-federal loan providers.
HOW EXACTLY TO APPLY
Much like the lender Partnership Program (FIPP) formerly utilized by LPO as well as other federal credit programs, tribes will connect with a qualified lender, that will in change affect DOE for the partial guarantee. The debtor shall end up being the tribe. Interested candidates and borrowers ought to:
1. Browse the solicitation in its entirety.
2. Build relationships DOE’s Loan Origination Division just before trying to get financing guarantee by emailing TELGP@hq. Doe.gov or by phone at 202-586-1262.
Candidates which are ready to apply may do therefore through DOE’s on line application for the loan portal.
Loan guarantees under TELGP can be found to eligible Indian tribes or entities, including Alaska Native village or local or village corporations, or other finance institutions or tribes fulfilling specific requirements founded by DOE, that will show being qualified to receive the special programs and solutions provided by the usa to Indians due to their status as Indians, or their wholly-owned entities with appropriate appropriate authority. In addition, Tribal Energy Development businesses that are majority-owned and managed by a number of tribes that are eligible additionally qualified to receive loan guarantees under TELGP.
Please browse the solicitation for more info about qualified borrowers.
ELIGIBLE LOAN PROVIDERS
An qualified lender would be considered a federally regulated commercial bank, other standard bank or even a tribe satisfying needs established by DOE, that is in a position to show experience and capacity to evaluate, underwrite, and negotiate energy development loans, just like the proposed loan with its tribal clients, and really should just submit an application for an assurance in the event that proposed loan satisfies a unique needs. Please browse the solicitation for more information about qualified lenders.
DOE can help a diverse array of energy-related tasks for tribes, including fossil energy manufacturing and mining,
Renewable energy, transmission infrastructure, and power storage space jobs. DOE is very dedicated to catalyzing the usage commercially technologies that are available Indian country. Please browse the solicitation to find out more about qualified tasks. Tasks using revolutionary technologies might wish to give consideration to LPO’s Title 17 Energy Loan Guarantee that is innovative Program.
APPLICATION EVALUATION PROCESS
DOE will evaluate applications in a two stages. Following a favorable dedication based on this two-phase review, DOE will commence more substantial homework plus the settlement of deal terms. DOE would then check out provide a phrase sheet and conditional dedication for the partial loan guarantee. Upon satisfaction of conditions precedent, DOE would then supply the partial loan guarantee. Please browse the solicitation for more information concerning the evaluation process. Please be aware that application distribution deadlines are planned on a month-to-month foundation until March 2022, and extra rounds can be established in a health health supplement towards the solicitation.
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