Finance
A Minnesota borrower applies for a USDA Rural Development loan. What is the primary requirement for the property's location?
AMust be in the Seven County Metropolitan Area
BMust be in a rural or small town area designated by USDA✓ Correct
CMust be within 5 miles of a city of 50,000 or more
DMust be on at least 5 acres of land
Explanation
USDA Rural Development loans are available only for properties in USDA-designated rural and small town areas. Many areas in outstate Minnesota qualify, including smaller communities around the Twin Cities metro edge.
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