USDA Rural Development Launches New, Streamlined Process for Private Lenders to Invest in Rural America
Trump Administration Keeps Promise to Cut Red Tape and Increase Private Investment in America’s Rural Communities
WASHINGTON, Oct. 1, 2020 – The Trump Administration today announced that 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.
“Rural America needs a mix of public and private partnerships and investments to build stronger, healthier communities,” USDA Deputy Under Secretary for Rural Development Bette Brand said. “Under the leadership of President Trump and Agriculture Secretary Perdue, USDA is cutting red tape and streamlining private investment so we can be a better partner to America’s rural leaders in building prosperity, because we know when rural America thrives, all of America thrives.”
As part of a series of regulatory reforms effective today, 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.