USDA Loan Guarantees

Ohio Economic Development Association
Economic Recovery Best Practice Case Study

Practice Name	USDA Loan Guarantees
Category	Loans Guarantees for Working Capital
Sector	Rural Businesses
Organization	USDA; Rural Business Cooperative Service
Contact	USDA State Office; Dave Hall, State Director; Federal Building, Room 507; 200 North High Street; Columbus, OH 43215-2418; Voice: (614) 255-2400; www.rd.usda.gov/oh
Web Site
Description	90% loan guarantees on B & I CARES Loans Working Capital Must be in Operation as of February 15, 2020 Maximum term extended to 10 years
Partners
Outcomes	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
Other Criteria	Applications considered in order received
Process	Applications beginning as of May 22, 2020 Must be received no later than June 22 Funding expires September 30, 2021
Links / Resources
Funding	$40 million in Federal Stimulus Funds