Blue Biofuels Inc (BIOF)

[brooklyn137]

thanks NYKnuckleballer,

This is from google on the USDA Phase one and two.

"The USDA Phase One loan guarantee typically refers to the initial stage of the application process for specialized rural development programs, most notably the Section 9003 Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program.

Under this two-phase system, Phase One acts as a preliminary evaluation of a project's technical and financial viability before a full application is invited.

Phase One Application Process
Project Evaluation: The Agency reviews the Phase One submission to determine if the project is eligible and technically/economically feasible.
Determination: After a positive determination in Phase One, the USDA invites the lender and borrower to submit a more detailed Phase Two application.

Determination: After a positive determination in Phase One, the USDA invites the lender and borrower to submit a more detailed Phase Two application.
Deadlines: Applications are generally accepted twice a year, typically with Phase One submission deadlines around October 1 and April 1.
Requirements: Applicants must demonstrate "Well Capitalized" status and have the legal authority and expertise to develop emerging technologies like advanced biofuels or renewable chemicals.

Loan Guarantee Features
Maximum Amount: Guarantees can reach up to $250 million for individual projects.
Guarantee Percentages: The percentage often scales based on the loan size. For example, smaller loans under $125 million may receive a 90% guarantee, while those over $200 million might only receive 60%.