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Rural Lenders Hampered by Federal Government Shutdown

Rural Lenders Hampered by Federal Government Shutdown

Photo: WNAX


As the partial government shutdown enters the fifth week, the agency responsible for one of the nation’s most popular home loans aimed at rural residents finds itself unable to process some applications.

Loan Officer Sheree Forgue with Charter West Bank of WestPoint says direct rural development loan applications are currently on hold because USDA officials who would approve them aren’t working…

Forgue says because the shutdown happened at the beginning of the year, recent applications can still be completed within reasonable time frame, as long as the government shutdown doesn’t last too much longer…

Rural development loans are available for residents of towns with populations of up to 35,000.

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