The USDA recently approved CFNE for eligible status to originate Business and Industry Guarantee Loans USDA Rural Development in all of the New England states. Previously CFNE was approved in only Connecticut and after review by the USDA National Office, it was determined that CFNE has sufficient lending expertise, financial strength, and legal authority to operate a successful lending program. The approval is conditional upon CFNE receiving lender training from the USDA state office. Paricipation in the B&I Guaranteed Loan Porgram will allow CFNE to offer additional funding to cooperatives in New England that meet USDA requiremnts and it may help CFNE borrowers whose collateralization may need augmentation or a guarantee.
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