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The Tribal Energy Loan Guarantee Program (TELGP) is really a loan that is partial system that may guarantee as much as $2 billion in loans to aid financial possibilities to tribes through power development jobs and tasks. Under this solicitation, DOE can guarantee as much as 90 % regarding the principal that is unpaid interest due on any loan meant to a federally recognized Indian tribe or Alaska Native Corporation for energy development. The borrower that is tribal have to spend equity into the task and all sorts of task financial obligation is likely to be given by non-federal loan providers.
APPLICATION PROCESS
HOW EXACTLY TO APPLY
Just like the standard bank Partnership Program (FIPP) formerly employed by LPO as well as other federal credit programs, tribes will affect an eligible lender, that will in change affect DOE when it comes to partial guarantee. The debtor shall function as the tribe. Interested candidates and borrowers ought to:
1. Browse the solicitation with its entirety.
2. Build relationships DOE’s Loan Origination Division ahead of trying to get a loan guarantee by emailing TELGP@hq. Doe.gov or by phone at 202-586-1262.
Candidates which can be ready to apply may do therefore through DOE’s on the web application for the loan portal.
ELIGIBLE BORROWERS
Loan guarantees under TELGP can be obtained to qualified Indian tribes or entities, including Alaska Native village or local or town corporations, or any other banking institutions or tribes fulfilling particular requirements established by DOE, that will show being qualified to receive the special programs and services given by the usa to Indians for 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 also entitled to loan guarantees under TELGP.
Please browse the solicitation for more info about qualified borrowers.
ELIGIBLE LOAN PROVIDERS
An lender that is eligible be a federally regulated commercial bank, other standard bank or even a tribe satisfying demands established by DOE, that is in a position to show experience and power to evaluate, underwrite, and negotiate energy development loans, like the proposed loan using its tribal clients, and really should just make an application for a guarantee in the event that proposed loan satisfies a unique needs. Please browse the solicitation for more information about qualified lenders.
ELIGIBLE TASKS
DOE can help an extensive selection of energy-related jobs for tribes, including fossil power manufacturing and mining,
Renewable power, transmission infrastructure, and power storage space jobs. DOE is very dedicated to catalyzing the employment of commercially technologies that are available Indian country. Please browse the solicitation to learn more about qualified jobs. Projects using revolutionary technologies may decide to think about LPO’s Title 17 Energy Loan Guarantee that is innovative Program.
APPLICATION EVALUATION PROCESS
DOE will evaluate applications in a two stages. Carrying out a favorable determination based on this two-phase review, DOE will commence more considerable homework in addition to settlement of deal terms. DOE would then check out offer a term sheet and conditional dedication for a loan guarantee that is partial. Upon satisfaction of conditions precedent, DOE would then supply the loan guarantee that is partial. Please browse the solicitation for more info concerning the assessment procedure. Please be aware that application distribution deadlines are planned for a basis that is monthly March 2022, and extra rounds might be established in a health supplement into the solicitation.
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