USDA updates its OneRD Guaranteed Loan Program
October 15, 2024
BY Erin Voegele
The USDA on Sept. 30 published a final rule implementing several policy and procedure revisions for its OneRD Guarantee Loan Program, which houses several of the agency’s loan programs, including the Rural Energy for America Program.
The USDA in 2020 launched the OneRD Guarantee Loan initiative, which included a variety of regulatory reforms aimed at eliminating duplicative processes and creating a single platform for four of the agency’s key loan programs, including REAP, the Water and Waste Disposal Loan Guarantees Program, the Community Facilities Guaranteed Loan Program, and the Business and Industry Guaranteed Loan Program. The changes were designed to make it easier for lenders to access the four guaranteed loan programs.
REAP provides loan guarantees and grant funding to agricultural producers and rural small businesses for renewable energy systems or to make energy efficiency improvements. Solid biomass, biogas, and biofuel projects are among the renewable energy systems that are eligible for the program.
The final rule issued Sept. 30 revises policies and procedures that the USDA said will strengthen oversight and management of the four programs. The agency said the action is part of its continuing effort to improve customer service for its lenders and create a more efficient work process for its staff.
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Among the changes included in the rule are amendments updating the specific application requirements for REAP projects, the REAP project priority point system, and requirements for matching funds.
A public comment period on the rulemaking is open through Oct. 30. The rule is scheduled to take effect Nov. 29. Additional information is available on the Federal Register website.
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