USDA Offers Temporary Payment Deferrals for the Community Facilities Direct Loan Program
WASHINGTON, April 17, 2020 – USDA Rural Development Deputy Under Secretary Bette Brand today announced that USDA is temporarily deferring payment for borrowers participating in the USDA Community Facilities Direct Loan program due to the COVID-19 pandemic.
Effective upon publication in the Federal Register through September 30, 2020, the USDA Community Facilities Direct Loan Program will temporarily allow borrowers with direct loans to request payment deferrals to assist those that are experiencing temporary cash flow issues due to the pandemic.
On a case-by-case basis, USDA will provide the option of principal and interest payment deferrals to borrowers impacted by COVID-19 for up to one year due to hardship. The borrower must request any payment deferments from the Agency in writing.
For additional information please see the public inspection preview of the notice at: https://www.federalregister.gov/documents/2020/04/21/2020-08429/direct-loan-payment-deferrals-for-the-community-facilities-direct-loan-program
Questions regarding this announcement may be directed to your USDA Rural Development (RD) State Office.
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