USDA Appoints New Under Secretary for Rural Development and New USDA State Directors
LINK #1: https://www.usda.gov/media/press-releases/2021/10/12/usda-announces-first-installment-farm-service-agency-and-rural LINK #2: https://www.whitehouse.gov/briefing-room/statements-releases/2021/10/12/president-biden-announces-key-regional-appointments-for-epa-hhs-and-usda/ LINK #3: https://www.usda.gov/media/press-releases/2021/10/12/statement-agriculture-secretary-tom-vilsack-confirmation Xochitl Torres Small, Under Secretary for Rural Development Reggie Taylor, State Director, Rural Development, Georgia Patricia Dominguez, State Director, Rural Development, New Mexico Brandon Fewins, State Director, Rural Development, Michigan [...]
USDA Releases Proposed Guaranty Limits and Fees for FY 2022
Permalink: https://www.federalregister.gov/documents/2021/07/02/2021-14193/onerd-annual-notice-of-guarantee-fee-rates-periodic-retention-fee-rates-loan-guarantee-percentage PDF Document: 2021-14193 Below are the proposed guarantee rates and fees for FY 2022. Here is the same chart from FY2021. As you can see, the Community Facility Guaranty Fee seems to have dropped by 25BP to [...]
Is the USDA B&I Guaranteed Loan Program Out of FY Funding???
There is a new graphic on the OneRD website tracking total funding, utilization, and remaining funds. Over the last few weeks, this graph has shown over utilization of funding in the USDA’s Business and Industry (B&I) loan program. On [...]
How to Save your Borrower with a Reduced Guaranty Fee on USDA Business and Industry Loans
In talking to several USDA lenders around the country, I have found not many know that reduced guarantee fees exist if one of several scenarios are met in section, 5001.454(d)(1-5). These regulations are detailed below and [...]
Corrected Guarantee Fee and Percentage for Loans in Alaska
CFR Release: 2021-00005 The CFR correction updated the USDA Guaranty Fee and the USDA Guarantee on Business and Industry loans to 1% and 90%, respectively. To obtain these rates, projects must be "in a high cost, isolated rural area [...]
USDA Business and Industry, USDA Community Facility, USDA Rural Energy for America Program, SBA Standard 7(a), and SBA 504 Loan Comparison Matrix
RD Business & Industry Loan Guarantee RD Community Facility Loan Guarantee RD Rural Energy For American Loan Guarantee SBA Standard 7(a) Loan SBA 504 Loan Loan Purpose Purchase/improve commercial real estate, business acquisitions, machinery, equipment, fixtures, debt refinance, [...]
USDA Rural Development Secretary Bette Brand Publishes Top Lending Partners for FY2020
Link to report: USDA Top Commercial Lenders for FY2020 Link to raw data: http://www.rd.usda.gov/sites/default/files/FY2020bligationsLenderReport.pdf Link to stylized spreadsheet: To Be posted This is an impressive list showing the 181 partner institutions lending more than $2.1 Billion across [...]
New Application Documents: 5001-1, 5001-2, 5001-3
5001-1 - USDA Guaranteed Application RD5001-01 can be accessed here or on our document page. This document is required for loan submission. Based on the layout and formatting, I would imagine that a new application will be released [...]
Eligibility Part 1: Location, Balance Sheet Equity, and Term
Location Eligibility: 5001.102(b) Project eligibility - general. Location. A project must be located in a State and meet the rural or rural area requirements of the applicable section in 5001.103 through 5001.108. Eligibility location is still based on the [...]