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USDA improving access to rural loans

USDA is working to increase private investment in rural areas by easing lender access to programs.

The agency is asking for public comment on regulatory reforms as part of the OneRD Guarantee Loan Initiative.

The initiative simplifies the lending process and makes one platform for the Water and Waste Disposal Loan Guarantees Program, Community Facilities Guaranteed Loan Program, Business and Industry Guaranteed Loan Program, and Rural Energy for America Guaranteed Loan Program.

Ag Secretary Sonny Perdue says the enhancements make it easier for private lenders to use USDA programs to invest in rural businesses and rural economic development.

A series of listening sessions will also take place this summer for feedback on the changes.