The Department of Defense’s Office of Strategic Capital is currently accepting applications for flexible direct financing for the construction, expansion, and modernization of “critical technology” facilities (Federal Register).
The agency is also seeking input from businesses and industry groups about the Department of Defense’s financing program through a Federal Register Request for Information, which will be accepted through Oct. 22.
What’s happening: According to the Department of Defense, the OSC credit program, which began Sept. 30, “attracts and expands private capital in industries and technologies critical to the national and economic security of the United States.” The purpose is to do. This is part 1 of the application process.
This loan is aimed at manufacturers who need to spend significant amounts of money on industrial or specialized equipment to build a new assembly line in an existing facility. The funding is also intended to cover “soft” costs, such as factory preparation and installation, associated with major technology projects.
Why it matters: “Funding from this program can benefit manufacturers of all sizes who are working to expand their operations and product lines in key sectors of the economy,” says NAM Energy and Natural Resources Policy said Director Mike Davin.
OSC loans offer flexible terms, U.S. Treasury-equivalent interest rates, long repayment terms, and deferred payments.
Who’s eligible: Manufacturers in 31 “Target Technology Categories” including advanced manufacturing, cybersecurity, battery storage, and spacecraft are encouraged to apply.
There are no standards or restrictions on company size or number of employees, and manufacturers that receive existing federal subsidies are eligible. See more
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