USDA to hold a lender forum on OneRD Guarantee Loan Initiative
March 16, 2021
BY Erin Voegele
USDA Rural Development has announced it will hold a feedback forum at 1:30 EDT on March 17 for lenders who have applied or are interested in applying to programs under the OneRD Guarantee Loan Initiative.
The agency said the forum will provide lenders with the opportunity to share ideas on how USDA can improve the application process and serving options under the initiative. The USDA plans to hold the forums on a quarterly basis.
The USDA issued a final rule to establish the OneRD Guarantee Loan Initiative in July 2020. The initiative aims to make it easier for lenders to access four guaranteed loan programs by eliminating duplicative processes and launching a single platform to administer those programs. The four loan guarantee programs impacted are the Rural Energy for America Program, the Water and Waste Disposal Loan Guarantees Program, the Community Facilities Guaranteed Loan Program, and the Business and Industry Guaranteed Loan Program.
As part of the OneRD Guarantee Loan Initiative, the USDA has standardized requirements for credit reviews, loan processing, loan servings and loss claims. The agency said these measures aim to make the application process simpler and faster for lenders.
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Additional information on the OneRD Guarantee Loan Initiative and webinar is available on the USDA website.
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