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USDA: ‘Free’ Money For Green Farmers
By Mr Ethanol | October 1, 2007
Molokai Times:
With all of the recent speculation on what Hawaii would look like under a meter of water, and the negative press the oil industry has received, the move to adopt alternative forms of energy and increase energy efficiency has gained strong momentum.
So much, in fact, that local, state and federal governments are handing out money to small businesses, farmers and ranchers who would like to reduce their dependence on oil.
Last Thursday, U.S. Department of Agriculture Rural Energy Coordinator Tim McConnell gave a small crowd of Molokai residents a rundown of the USDA guaranteed loans and grants available to those looking to spiff up their carbon footprints (and electric bills).
“There’s a lot of money being thrown at (renewable),” O’Connell told the group at the DHHL conference room at Kulana ‘Oiwi. “Probably every business on Molokai would qualify as a small business.”
Two Molokai small businesses have already qualified for USDA money: accountant Kim Markham, and Molokai Drug Store. Both are going solar.
To qualify as a small business, he said, a company must have fewer than 500 employees and make less than $6 million a year.
But there’s a catch: the grants can only constitute 25 percent of the project, and must range between $2,500 and $500,000 for renewable energy projects and $1,500 and $250,000 for energy efficient improvements projects. Any renewable energy project under $10,000 means that the farmer in question has to foot the bill.
As for loans, they can make up no more than 50 percent of a project’s total cost and must range between $5,000 and $10,000,000.
Topics: Agriculture, Energy, Entrepreneurs, Green Business, Investing, Trends |
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