Business and Industry Guaranteed Loan Program Status of Funding   Lenders and stakeholders, The United States Department of Agriculture (USDA) strengthened the Business and Industry Guaranteed Loan Program (B&I) to empower lenders to serve the capital needs of rural businesses through the development and implementation of the new OneRD Guaranteed Loan Initiative (OneRD), which debuted in October 2020. Through lender and stakeholder engagement, recommended program enhancements proved to be effective, and B&I lending activity doubled under the new OneRD Initiative.  Unfortunately, demand for B&I loan guarantees under the OneRD Initiative is greater than the amount of funding authority available at this time. The FY 2022 Appropriations Act provided $1.25 billion of loan guarantee authority for B&I guaranteed loans.   Because of the limited funding remaining, USDA discontinued allocating funds on an as-requested basis.  Moving forward and until further notice, USDA will award funds on a monthly basis.  Funding awards will be based on the project priority score in accordance with 7 CFR 5001.318, 'B&I project priority point system'.  Requests not selected for funding will be carried into the following month's funding cycle. USDA will continue processing applications as received up to the point of approval, including the final recommendation of the appropriate Agency loan committee. Final loan approval documents will be executed and processed after selection for funding.  If a project is not selected for funding or all B&I guaranteed loan funds are exhausted, final loan approval documents may not be processed and a Conditional Commitment will not be issued.  A working copy of the Conditional Commitment (clearly marked 'DRAFT') may be shared with a lender prior to loan approval and funding. USDA maintains weekly updates of the status of funding, the balance of funding remaining, and dollar amount of applications in the processing queue on the OneRD Initiative website.  The website also includes the funding status for other Rural Development guaranteed loan programs including the Food Supply Chain Guaranteed Loan Program (FSC) and the Rural Energy for America Program (REAP). If there are any questions regarding B&I funding or other Rural Development guaranteed loan programs, please contact Mark Brodziski at Mark.Brodziski@usda.gov or Aaron Morris at Aaron.Morris@usda.gov   USDA is an equal opportunity provider, employer, and lender

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