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 Administrationís (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