SBA Unveils 90% Federal Guarantee on Energy Sector Loans
· Texas Border Business
The U.S. Small Business Administration (SBA) has introduced a new 90% Energy Guarantee for small businesses involved in energy production. This initiative, part of the SBA International Trade Loan (ITL) Program, aims to boost energy capacity, reduce costs, and enhance supply chains. The enhanced guarantee encourages lenders to invest in various sectors, including energy production and distribution. Small businesses in specific NAICS codes related to energy extraction and mining can now access this financing. The SBA has previously launched similar guarantees for food production and manufacturing, totaling over $192 million in approved capital since May.
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