While FY 2007 drew to a close on Friday, September 28, 2007, USDA Rural Development will continue accepting guarantee requests without interruption on October 1, 2007.  The SFHGLP will carry over unused funding from FY 2007 into FY 2008.  This funding will become available for FY 2008 guarantees in mid-October.  Beginning on October 1, 2007 and continuing during the brief period of time which FY 2007 funds are converted to FY2008 funds, USDA Rural Development will issue funding commitments “subject to the availability of appropriated funds” as it has in prior years.  Rural Development will issue a separate notice concerning commitments “subject to the availability of appropriated funds” in the near future.
 
Aside from the funds that will carry over from FY 2007 into FY 2008, the President has proposed an amount exceeding $4 billion for the SFHGLP in FY 2008. 
 
In view of the abundant funding available for the SFHGLP, all approved lenders are encouraged to continue requesting conditional commitments and loan note guarantees with the confidence that funds are and will continue to be available.  Should you have any questions about this communication, please call (202) 720-1452.
 

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Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, OH  and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 425 employees.  Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico