USDA Rolls Out Guarantee Loan Initiative Program

The USDA is out with a new initiative, all in an effort to," make it easier for private lenders to use our programs to invest in rural economic development," said deputy Undersecretary for Rural Development, Bette Brand. She added 1RD Guarantee Loan Initiative offers a common guaranteed loan application for USDA programs supporting development of rural water and waste water infrastructure, community facilities,  business and industry, and rural energy production.

"We are standardizing requirements for credit reviews, loan processing, loan servicing, and loss claims across all 4 lending programs to help improve the customer experience."

Brand adds, the base of eligible lenders will also be expanded  by providing automatic approval to lenders in good standing that are supervised or created by federal or state regulatory agencies.

To learn more, or for additional details, visit the USDA's Website.

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekmedia.com