USDA Launches New, Streamlined Process for Private Lenders to Invest in Rural America

The United States Department of Agriculture (USDA) is now accepting applications for the department’s four key loan guarantee programs under the OneRD Guarantee Loan Initiative. USDA has officially eliminated duplicative processes and has launched a common loan guarantee application for the following programs:

• Water and Waste Disposal Loan Guarantee Program;
• Community Facilities Guaranteed Loan Program;
• Business and Industry Guaranteed Loan Program; and
• Rural Energy for America Guaranteed Loan Program.

Through this initiative, the department has standardized requirements for credit reviews, loan processing, loan servicing, and loss claims. These measures will make the application process simpler and faster for lenders. USDA also is providing automatic approval to participate in all four programs to lenders in good standing who are supervised or created by state or federal regulatory agencies. This expands the base of eligible lenders for the four guaranteed loan programs. USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas, and the assistance supports infrastructure improvements and high-speed internet access in rural areas.