USDA RD and SBA to host joint lender meeting

U.S. Department of Agriculture Rural Development and the Small Business Administration are holding a joint training session for lenders to learn about programs and products available to support business lending in South Dakota. 

USDA RD staff will explain the Business & Industry and the Rural Energy for America Program guaranteed programs and how lenders can use them to expand their portfolio, while maintaining the personal contacts through servicing. Lenders will also learn about using Farmer Mac as a secondary market, using lender participation to extend your loan limits, and using these programs to meet your CRA goals.

U.S. Small Business Administration will present on the benefits of using the 7(a) Guaranty Loan. This program will allow for a lender to finance new ventures or assist existing businesses in their community by providing extended terms to help small business owners with their business operations and reducing the lenders’ loan risk. 

Please make plans to attend the session Dec. 12 at 1 p.m. in Madison, South Dakota at the Depot, 315 South Egan Avenue to get the latest information on these guaranteed loan products.

If you have questions, you can contact David Puls at 605-330-4243 ext. 13 or [email protected] or Dana Kleinsasser at 605-352-1157 or [email protected].