USDA Grants Lenders Temporary Exception to Offer Payment Deferrals for Agency Guaranteed Loan Programs

USDA Rural Development sent this bulletin at 03/31/2020 12:25 PM EDT

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USDA Grants Lenders Temporary Exception to Offer Payment Deferrals for Agency Guaranteed Loan Programs

WASHINGTON, March 31, 2020 – USDA Rural Development Deputy Under Secretary Bette Brand today announced that USDA is granting lenders a temporary exception to offer payment deferrals for Agency guaranteed loan programs due to the COVID-19 pandemic.

Effective immediately until September 30, 2020, lenders may offer 180-day loan payment deferrals without prior agency approval for Business and Industry Loan Guarantees, Rural Energy for America Program Loan Guarantees, Community Facilities Loan Guarantees, and Water and Waste Disposal Loan Guarantees. For additional information, see page 17721 of the March 31, 2020, Federal Register.

Questions regarding this announcement may be directed to:

Rural Business-Cooperative Service: Aaron Morris (Morris@usda.gov)
Rural Housing Service: Deborah Jackson (Jackson2@usda.gov)
Rural Utilities Service: Darrel Lipscomb (Lipscomb@usda.gov)

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USDA is an equal opportunity provider, employer and lender.

USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov.

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