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In particular, this assistance comes in three areas: business, utilities, and housing. The Under Secretary for Rural Development oversees loans, grants, and technical assistance to rural residents, communities, and businesses. With the rank of Under Secretary, the USDA(RD) is a Level III position within the Executive Schedule. [1]
The Rural Development Administration (RDA) was a USDA agency established by the 1990 farm bill (P.L. 101-624, Sec. 2302), amending the Consolidated Farm and Rural Development Act of 1972 (7 U.S.C. 1921 et seq.), to administer FmHA community and business programs and other USDA rural development programs.
These are "lender-driven" programs, whereby business loans (generally made by commercial banks) receive a Federal loan guarantee. The guarantee is designed to support and incentivize rural business lending and to support rural job creation and retention. The primary program in this category is the Business & Industry (B&I) guaranteed loan program.
To be eligible for a USDA Rural Business Development Grant, businesses must have 50 workers and less than $1 million in gross revenue. ... from USAA Small Business Insurance. Companies can also ...
Unlike small business loans, these grants don’t have to be paid back, ... The USDA Rural Business Development Grant Program. ... It awards $5,000 to $25,000 grants to small business owners of ...
A USDA home loan is a no-down payment mortgage for low- and moderate-income homebuyers in largely rural areas. USDA loans are part of a national program created by the U.S. Department of ...
A USDA Home Loan from the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, [1] is a mortgage loan offered to rural property owners by the United States Department of Agriculture, Rural Development.
The Consolidated Farm and Rural Development Act of 1972 or Con Act (P.L. 92-419) authorized a major expansion of USDA lending activities, which at the time were administered by Farmers Home Administration (FmHA). The legislation was originally enacted as the Consolidated Farmers Home Administration Act of 1961 (P.L. 87-128). In 1972, this title ...