ICBA and other groups called on House appropriators to ensure adequate funding for key USDA rural development programs in the next COVID bill.
ICBA urges funding for rural development programs
February 23, 2021 / By ICBA
ICBA and other groups called on House appropriators to ensure adequate funding for key USDA rural development programs in the next COVID bill.
ICBA and other groups called on House appropriators to ensure adequate funding for key USDA rural development programs in the next COVID bill.
Background: The USDA’s Business and Industry guaranteed loan program is expected to exhaust current funding in the coming months and face a projected $1 billion shortfall in loan authority this fiscal year, though the pending COVID package doesn't address the shortfall.
ICBA Position: Policymakers should address the B&I program shortfall, renew the B&I CARES Act program, and extend the CARES Act's six months of payments for those with existing SBA loans to USDA Rural Development guaranteed loans.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
