Company with no experience gets $80 million of your money courtesy of Obozo

If you run your own business, you know how hard it can be to get a loan for a few tens of thousands of dollars.

So how easy is it for a startup business to get a million-dollar loan?

Chump change, y'say? Well how about $80 million? And how about, 'guaranteed by the taxpayers' so you'll get a low rate?

One so-called "green" company in New Hampshire got such a deal from Obozo's Department of Energy (and another $20 million from the state. But ya see, it's a "green" company, so it offered the promise of creating "green" jobs. And green is reeeally "in" now with the Elites, bein' as how it's all Gaia-friendly n' shit.

In fact, this company "promised" to create 70 new jobs with the taxpayer cash it already got.

So how did it do, you ask?

It...um...created a grand total of THREE jobs in 3 years.

Further, in its SEC filing the company admits it had no experience in the markets in which it sought to operate.

Hmmm...how many banks to you think would lend $80 mill to a company that had zero experience in its selected field, if the loan wasn't guaranteed by taxpayers?

But hey, what does a track record or experience matter if you're a "green" company promising to create green jobs?

I've lost count: How many Billions in taxpayer money has the Obama DOE shoveled out the door to goofy, flighty, zero-experience companies that promised green jobs?

Oh, wait, I found the secret: The company wanted to make "cellulosic ethanol." Which another branch of gummint has decreed gasoline refiners must add to their product...for some reason. To the tune of a few billion gallons per year.

Three jobs in three years, for a bargain-basement price of just $80 million of your money. Amazing. Sure glad gummint is choosing companies to back, instead of the private sector deciding. So much smarter and fairer.

Any bets on whether the company's founders turn out to be big Obama bundlers?