[3] The Biden Administration recently released its guidebook on programs that highlight government-funded grants, loans and loan guarantees to encourage their greater use. The repayment periods for RRIF loans can run as long as 35 years, and repayment may be deferred for up to five years after the project reaches substantial completion. [5] For a project to be eligible, it must use the RRIF loan or loan guarantee to finance economic development, including commercial and residential development, and related infrastructure and activities. Under the TIFIA program, secured loans, loan guarantees or standby lines of credit are available. Up to 33% of eligible project costs may be covered by assistance under the TIFIA program, though this may be increased to 49% under the TIFIA 49 Initiative).

Source: Forbes December 20, 2023 14:44 UTC