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TRIBAL ENERGY LOAN GUARANTEE PROGRAM. To find out more, read our fact sheet.

TRIBAL ENERGY LOAN GUARANTEE PROGRAM. To find out more, read our fact sheet.

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The Tribal Energy Loan Guarantee Program (TELGP) is really a loan that is partial system that can 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 per cent associated with principal that is unpaid interest due on any loan meant to a federally recognized Indian tribe or Alaska Native Corporation for power development. The tribal debtor will be asked to spend equity within the task and all sorts of task financial obligation will soon be given by non-federal loan providers.

APPLICATION PROCESS

HOW EXACTLY TO APPLY

Much like the standard bank Partnership Program (FIPP) formerly utilized by LPO along with other federal credit programs, tribes will affect a qualified lender, that will in change affect DOE when it comes to guarantee that is partial. The debtor will 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 that loan guarantee by emailing TELGP@hq. Doe.gov or by phone at 202-586-1262.

Candidates which are willing to use may do so through DOE’s on the web application for the loan portal.

ELIGIBLE BORROWERS

Loan guarantees under TELGP can be found to qualified Indian tribes or entities, including Alaska Native village or regional or town corporations, or any other banking institutions or tribes fulfilling specific requirements founded by DOE, that will show being entitled to the special programs and solutions given by the usa to Indians due to their status as Indians, or their wholly-owned entities with appropriate authority that is legal. In addition, Tribal Energy Development businesses that are majority-owned and managed by one or more eligible tribes are 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 a federally regulated commercial bank, other standard bank or even a tribe satisfying demands established by DOE, this is certainly in a position to show experience and capacity to evaluate, underwrite, and negotiate energy development loans, much like the proposed loan using its tribal clients, and really should just submit an application for an assurance in the event that proposed loan satisfies its very own demands. Please browse the solicitation for more info about qualified lenders.

ELIGIBLE JOBS

DOE can help an easy number of energy-related jobs for tribes, including fossil power manufacturing and mining,

Renewable power, transmission infrastructure, and power storage tasks. DOE is very dedicated to catalyzing the utilization of commercially technologies that are available Indian nation. Please browse the solicitation to learn more about qualified jobs. Tasks using revolutionary technologies might wish to start thinking about LPO’s Title 17 Energy Loan Guarantee that is innovative Program.

APPLICATION EVALUATION PROCESS

DOE will evaluate applications in a two stages. Adhering to a favorable determination based on this two-phase review, DOE will commence more substantial homework additionally the settlement of deal terms. DOE would then go to provide a phrase sheet and conditional dedication for a loan guarantee that is partial. Upon satisfaction of conditions precedent, DOE would then give you the loan guarantee that is partial. Please browse the solicitation for more info concerning the assessment procedure. Take note that application distribution deadlines are planned for a basis that is monthly March 2022, and extra rounds could be established in a health supplement into the solicitation.

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