The Rural Business-Cooperative Service, Rural Housing Service, and Rural Utilities Service within the USDA have issued corrections to a final rule for the OneRD Guarantee Loan Program originally published on September 30, 2024. These corrections address issues such as a misspelled subject heading, incorrect instructions, an incomplete definition of an "affiliate," and inaccuracies regarding protective advances. Key changes include clarifying rules about when agency approval is required for protective advances and updating specific sections of the regulation. This corrected rule aims to improve the management of agricultural and rural development loan programs.
Simple Explanation
The U.S. Department of Agriculture wanted to fix some mistakes in a set of rules about loans to help places in the countryside. They changed some misspelled words and updated some rules so everything is clearer and helps everyone, but they didn't explain what these changes mean for people using the loan program.