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USDA Offers Payment Deferrals on Guaranteed Loans

Name
Jay Fletcher
Phone
City
Washington, D.C.
Release Date

Stakeholder Announcement

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:

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