NEWS RELEASE

United States Department of Agriculture • Rural Development

1221 College Park Drive, Suite 200, Dover, DE 19904

Phone: (302) 857-3580 • Fax: (302) 857-3640 • TDD: (302) 857-3585 • Web: http://www.rurdev.usda.gov

USDA Guaranteed Loans Can Help Make it Happen

Dover, DE March 10, 2008 – This month, USDA Rural Development is kicking off a campaign called Equity Partnerships Across America in an effort to increase economic opportunity, create jobs and enhance the quality of life in rural communities.

USDA Rural Development State Director, Marlene Elliott Brown said, “Rural Development lending specialists are meeting with members of community banks and financial institutions across Delaware and Maryland to explain the benefits and incentives of the USDA Rural Development Guaranteed Loan Programs.”

There are four specific loan programs designed to help new or existing businesses, non-profit organizations and state and local governments finance projects that will help improve the local economy:

Projects can range from new business startups to expansion of existing businesses;

Energy projects that help farmers and rural small businesses purchase and install renewable energy systems or make energy efficiency improvements;

Community facility projects such as schools, libraries, hospitals, assisted living facilities, fire and rescue stations, police stations, public buildings and more;

And, projects to build or improve basic public utilities like water and sewer systems, storm sewers and solid waste facilities.

There are numerous benefits for lenders to partner with USDA Rural Development including – lender’s use of their own forms, loan documents, and security instruments; no maximum loan limit - the amount is determined based upon project feasibility, repayment ability, and reasonable project cost; protection against loss of the loan for up to 90 percent of the loss; a one time 1% USDA guarantee fee assessed on the guaranteed portion, with no annual renewal fee; rates and terms are negotiated between the lender and the borrower; typically, loan approval occurs 30-60 days after the receipt of a completed application.

Lenders, farmers, non-profit organizations, State and Local Governments, small business owners or individuals who are interested in learning more about USDA Rural Development Guaranteed Loan Programs should call (302) 857-3625 or visit the USDA Rural Development website at www.rurdev.usda.gov. TTY users should call (302) 857-3585.

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Committed to the future of rural communities.

“USDA is an equal opportunity provider, employer and lender.”

To file a complaint of discrimination write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W.,

Washington, D.C. 20250-9410, or call (800) 795-3272 (voice), or (202) 720-6382 (TDD).