rural-development · Rural Utilities Service · Rule · Published 2020-07-14 · Effective 2020-10-01 · 85 FR 42494
Document
Document number
2020-13991
Federal Register citation
85 FR 42494
CFR reference
7 CFR 1779
Type
Rule
Action
Final rule; request for comments.
Category
rural-development
Sub-agency
Rural Utilities Service
Publication date
2020-07-14
Effective date
2020-10-01
USDA docket
Docket No. RUS-19-Agency-0030
Abstract
The Rural Business-Cooperative Service, Rural Housing Service, and the Rural Utilities Service, agencies of the Rural Development mission area within the U.S. Department of Agriculture (USDA), hereinafter collectively referred to as the Agency, are proposing a unified guaranteed loan platform for enhanced delivery of four of its existing guaranteed loan programs: Community Facilities (CF) administered by the Rural Housing Service; Water and Waste Disposal (WWD) administered by the Rural Utilities Service; and, Business and Industry (B&I) and Rural Energy for America (REAP) administered by the Rural Business-Cooperative Service. Collectively, these four Rural Development's guaranteed loan programs work to assist in building and maintaining sustainable rural communities. This rule incorporates new and revised provisions intended to simplify, improve, expand and enhance the delivery of the four guaranteed loan programs. These provisions include, among others, clearly defining specific project eligibility criteria, revising the requirements for lenders to participate in the programs, and streamlining the documentation requirements for submission of guaranteed loan applications.