Displaying items by tag: loan

WASHINGTON — The U.S. Department of Agriculture is announcing a higher loan limit will be available for borrowers seeking a guaranteed farm loan starting Oct. 1, 2021, from $1.776 million to $1.825 million.

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WASHINGTON — To assist Farm Storage Facility Loan borrowers experiencing financial hardship from the pandemic and other challenges in production agriculture, USDA’s Farm Service Agency is offering a one-time annual installment payment deferral option. No fees or prepayment penalties apply for borrowers who choose this FSFL loan flexibility option.

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RALEIGH —The NC COVID-19 Rapid Recovery Loan Program, which launched in late March to support small business owners and family farms in the wake of the pandemic, has amended operations to better respond to the ongoing challenges facing North Carolina businesses. 

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RALEIGH — The Appalachian Regional Commission and Dogwood Health Trust recently announced funding to support the NC COVID-19 Rapid Recovery Loan Program, the bridge loan program designed to help North Carolina small business owners and family farms grapple with, and recover from, the economic impact of the coronavirus pandemic. 

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MONROE — On May 1, 2020, President Donald Trump declared a major disaster in the State of South Carolina based on damages and losses caused by severe storms, tornadoes, and straight-line winds that occurred April 12-13, 2020.  

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ROCKINGHAM ― Mayor Steve Morris had a bit of paperwork to sign following a special meeting Thursday evening after the City Council approved a resolution to accept the conditions set forth by the USDA on a permanent financing loan for the Richmond Community College downtown campus.

The vote was unanimous with Councilman John Hutchinson giving his “aye” over the phone.

Larry Sampson, a loan specialist with the USDA, rapidly went over the conditions for the $6.75 million loan which the city will have to pay back over a 25-year period at 3.875 percent interest. Sampson said if interest rates decrease during the span of the loan, then the rate will also. However, the loan rate is locked at 3.875 percent and will not go any higher.

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