DOD Makes Loans to Industry for Critical Technology Development, Production
11/07/2024
The Department of Defense (DOD) has announced a new program to provide loans to industry for the development and production of critical technologies. The program, known as the Defense Production Act (DPA) Title III Loan Program, will provide up to $3 billion in loans to companies that are developing or producing technologies that are essential to national defense.
The DPA Title III Loan Program is part of the Biden administration’s efforts to strengthen the domestic supply chain for critical technologies. The administration has identified a number of technologies that are essential to national defense, including semiconductors, batteries, and rare earth minerals. The DPA Title III Loan Program will provide companies with the capital they need to invest in these technologies and increase domestic production.
The DPA Title III Loan Program is open to businesses of all sizes. Companies that are interested in applying for a loan can find more information on the DOD website.
The DPA Title III Loan Program is a significant step forward in the Biden administration’s efforts to strengthen the domestic supply chain for critical technologies. The program will provide companies with the capital they need to invest in these technologies and increase domestic production. This will help to ensure that the United States has the technologies it needs to defend itself and its allies.
Additional Information
The DPA Title III Loan Program is authorized by the Defense Production Act of 1950. The DPA is a law that gives the President the authority to mobilize the domestic economy to support national defense. The DPA has been used in the past to provide loans to companies that are developing or producing critical technologies.
The DPA Title III Loan Program is a revolving loan program. This means that the loans will be repaid to the government, and the money will be used to provide loans to other companies. This will allow the program to continue to support the development and production of critical technologies for many years to come.
The DPA Title III Loan Program is a key part of the Biden administration’s efforts to strengthen the domestic supply chain for critical technologies. The program will provide companies with the capital they need to invest in these technologies and increase domestic production. This will help to ensure that the United States has the technologies it needs to defend itself and its allies.
DOD Makes Loans to Industry for Critical Technology Development, Production
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