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Loan Guarantees Adopted|for Rural Biorefineries

WASHINGTON (CN) - Rural electric companies considering construction of commercial biorefineries may be able to secure 90 percent guarantees on loans up to $125 million, under interim U.S. Department of Agriculture rules.

The guarantees also are good for retrofitting existing facilities using certain technology for developing advanced biofuels.

The loan guarantees are authorized by the Farm Security and Rural Investment Act of 2002. The interim rules were adopted by the Department of Agriculture's Rural Business-Cooperative Service and Rural Utilities Service.

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