For those who don't know, the NRLA is the Natural Rural Lenders Association and is an advocate for rural lending. As an association, we meet each year and discuss USDA and Rural lending, upcoming regulations, and network with one another [...]
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 Bob [...]
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 1.25% [...]
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 the [...]
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 includes [...]
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 of [...]