Business and Industry Guaranteed Loan Program
Recovery Goals
The purpose of the Business and Industry (B&I) Guaranteed
Loan Program is to improve, develop, or finance business,
industry, and employment and improve the economic and environmental
climate in rural communities. This purpose is achieved by bolstering
the existing private credit structure through the guarantee of
quality loans which will provide lasting community benefits. It
is not intended that the guarantee authority will be used for
marginal or substandard loans or for relief of lenders having
such loans. The specific Recovery Act goals are to:
- Provide the guarantee of quality loans that provide lasting community benefits
- Create or save jobs in rural areas
- Provide assistance to small businesses and improve the local rural economy.
Performance Measurements
| Outcome |
Output/Measure |
Result |
| Create economic opportunity in rural America and provide assistance to small businesses1 |
Rural jobs created / saved |
32,500 |
| Percentage of loan guarantee recipients that are small business1 owners |
100% |
| Businesses remaining in existence 5 years after loan closing |
(Available after 2/17/2014) |
| Percentage of small businesses1 remaining in existence 5 years after loan closing |
(Available after 2/17/2014) |
1. An entity is considered a small business in accordance with
the Small Business Administration’s (SBA) small business size standards
by the North American Industry Classification System (NAICS) found in
Title 13 CFR part 121
Funding
RD ARRA Program Funding*
| Total RD Program-Level ARRA Funding: |
$21,482,204,278 |
| B&I Program-Level ARRA Funding: |
$1,601,540,819 |
B&I ARRA Obligated Funds
| B&I Program-Level ARRA Funding*: |
$1,601,540,819 |
| Obligated: |
$1,601,007,139 |
*Note: Funding has been calculated based on a budget authority
using conversion rates for loans.
B&I ARRA Obligated Projects
| Number of B&I ARRA Projects: |
528 |
| Number of States and Territories Awarded: |
51 |
| From: |
To: |
 |
$0 |
$0 |
 |
$1 |
$9,427,249 |
 |
$9,427,250 |
$18,849,999 |
 |
$18,850,000 |
$47,867,999 |
 |
$47,868,000 |
$117,661,159 |
| State |
Number of B&I ARRA Loans |
Funding
Obligated |
| |
| Alabama |
11 |
$37,732,700 |
| Alaska |
7 |
$15,481,111 |
| American Samoa |
1 |
$16,672,000 |
| Arizona |
5 |
$16,854,393 |
| Arkansas |
5 |
$16,575,000 |
| California |
22 |
$57,838,143 |
| Colorado |
2 |
$1,428,000 |
| Connecticut |
3 |
$12,307,580 |
| Delaware |
0 |
$- |
| Florida |
6 |
$18,850,000 |
| Georgia |
21 |
$77,501,575 |
| Guam |
2 |
$1,512,500 |
| Hawaii |
2 |
$10,000,000 |
| Idaho |
11 |
$13,220,634 |
| Illinois |
14 |
$35,626,756 |
| Indiana |
8 |
$10,423,612 |
| Iowa |
24 |
$76,064,331 |
| Kansas |
14 |
$45,403,900 |
| Kentucky |
14 |
$64,624,277 |
| Louisiana |
15 |
$72,320,000 |
| Maine |
5 |
$7,822,800 |
| Maryland |
0 |
$- |
| Massachusetts |
6 |
$9,427,250 |
| Michigan |
31 |
$78,306,553 |
| Minnesota |
13 |
$35,555,133 |
| Mississippi |
12 |
$40,780,000 |
| Missouri |
23 |
$47,868,000 |
| Montana |
7 |
$21,877,750 |
| State |
Number of B&I ARRA Loans |
Funding
Obligated |
| |
| Nebraska |
15 |
$58,697,469 |
| Nevada |
2 |
$8,825,000 |
| New Hampshire |
3 |
$12,821,920 |
| New Jersey |
1 |
$1,100,000 |
| New Mexico |
0 |
$- |
| New York |
26 |
$54,523,017 |
| North Carolina |
38 |
$66,295,712 |
| North Dakota |
6 |
$5,541,000 |
| Northern Mariana Islands |
0 |
$- |
| Ohio |
16 |
$59,492,810 |
| Oklahoma |
9 |
$32,984,500 |
| Oregon |
13 |
$40,098,534 |
| Pennsylvania |
8 |
$29,985,000 |
| Puerto Rico |
5 |
$14,779,134 |
| Rhode Island |
1 |
$1,766,000 |
| South Carolina |
16 |
$33,633,987 |
| South Dakota |
5 |
$3,457,400 |
| Tennessee |
21 |
$74,319,948 |
| Texas |
9 |
$70,015,470 |
| Utah |
2 |
$4,620,708 |
| Vermont |
3 |
$15,471,940 |
| Virgin Islands |
1 |
$3,750,000 |
| Virginia |
10 |
$17,062,000 |
| Washington |
6 |
$23,746,433 |
| West Virginia |
1 |
$3,284,000 |
| Wisconsin |
26 |
$117,661,159 |
| Wyoming |
1 |
$5,000,000 |
