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15 U.S. Code § 3721

Federal loan guarantees for innovative technologies in manufacturing

15 U.S. Code § 3721. Federal loan guarantees for innovative technologies in manufacturing

(a) Establishment
The Secretary shall establish a program to provide loan guarantees for obligations to small- or medium-sized manufacturers for the use or production of innovative technologies.
(b) Eligible projectsA loan guarantee may be made under the program only for a project that re-equips, expands, or establishes a manufacturing facility in the United States—
(1)
to use an innovative technology or an innovative process in manufacturing;
(2)
to manufacture an innovative technology product or an integral component of such a product; or
(3)
to commercialize an innovative product, process, or idea that was developed by research funded in whole or in part by a grant from the Federal government.
(c) Eligible borrower
A loan guarantee may be made under the program only for a borrower who is a small- or medium-sized manufacturer, as determined by the Secretary under the criteria established pursuant to subsection (l).
(d) Limitation on amount
A loan guarantee shall not exceed an amount equal to 80 percent of the obligation, as estimated at the time at which the loan guarantee is issued.
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