Lenders need the legal authority, financial strength, and sufficient experience to operate a successful lending program. This includes lenders that are subject to supervision and credit examination by the applicable agency of the United States or a State. Other non-regulated lending institutions may be approved by the Agency under the criteria of the OneRD Guarantee Loan Initiative regulation.
Funds may be used for (but not limited to) business conversion, enlargement, repair, modernization, or development, the purchase and development of land, buildings, and associated infrastructure for commercial or industrial properties, the purchase and installation of machinery and equipment, supplies or inventory, debt refinancing when such refinancing improves cash flow and creates jobs, and/or business and industrial acquisitions when the loan will maintain business operations and create or save jobs.
Eligible entities include for-profit or non-profit businesses, cooperatives, federally-recognized Tribes, public bodies, individuals engaged or proposing to engage in a business.