Expanded Rural Area Eligibility for Business and Industry and Renewable Energy Guaranteed Loan Programs
Effective immediately, additional rural Oregon communities are now eligible for business and renewable energy guaranteed loan programs administered by the U.S. Department of Agriculture (USDA) Rural Development.
Lenders utilizing USDA's Business and Industry (B&I) Guaranteed Loan Program or Rural Energy for America Program (REAP) now have expanded lending opportunities.
The Oregon communities added to the eligible rural areas for the USDA programs listed above are:
- Eagle Point
- Forest Grove
- Pleasant Home
Previously, these communities were considered ineligible as they were linked to the metropolitan statistical area (MSA) of a neighboring city or town with a population of more than 50,000. An exemption was recently approved for these communities under the exclusionary provision of the 2008 Farm Bill.
For more information:
Questions related to USDA Rural Development's commercial guaranteed loan programs in Oregon may be directed to Lisa Siesennop, Business and Cooperative Programs Director, (503) 414-3367, or you may contact a local Business and Cooperative Specialist.
For projects outside of Oregon:
Those with project proposals outside of Oregon should contact USDA Rural Development in the corresponding state.