USDA Releases New Community Facilities Loan Program

USDA Releases New Community Facilities Loan Program

This year, for the first time, the USDA’s Community Facilities Loan Program is open to Community Development Financial Institutions (CDFIs) and other community lenders serving high-poverty rural communities. Under the new Community Facilities Relending Program, CDFIs and other relenders will have access to long-term, low-cost, fixed-rate capital for investments in critical community facility infrastructure.

Interested community development lenders within the designated high-poverty areas (see map HERE for details) should begin preparing to apply for the Community Facilities Relending Program IMMEDIATELY. To apply for this program, applicants will need to secure a loan guarantee from a bank as well as submit all information outlined in the Federal Register notice that will be posted next week. An advance copy of the Notice of Solicitation of Applications may be found HERE. All materials are due August 8, 2016.

The USDA is sponsoring a webinar for prospective applicants TOMORROW (Thursday, July 7, 2016) at 12 p.m. MT. Please register for this event here: https://cc.readytalk.com/registration/#/?meeting=elr44vwmnvzf&campaign=rezeo439irbs