Department of Agriculture Awarded a Contract to PROCTOR FINANCIAL INC. for $1,290,000.00

Q: Where is PROCTOR FINANCIAL INC. located?

700 TOWER DR TROY MICHIGAN UNITED STATES

Signed on

3/4/2026, 12:00 AM

PROCTOR FINANCIAL INC. Government Contract #12C0BA26C0001

PROCTOR FINANCIAL INC. was awarded a contract with the United States Government for $1,290,000.00. The contract was awarded by the agency office USDA/RD/CONTRACT OPERATIONS BRANCH, which is a division with the Rural Housing Service within the Department of Agriculture.

Summary of Award

Proctor Financial Inc., a U.S.-owned business based in Troy, Michigan, received a federal contract worth $258,000 from the Department of Agriculture's Rural Housing Service. The contract is for providing lender-placed insurance on properties financed through rural development housing programs to mitigate risk. One notable transaction related to the contract shows the payment amount of $258,000 on March 4, 2026.

Contract Details

Contract ID12C0BA26C0001

Contract TypeD

Total Obligation$258,000.00

Exercised Options$258,000.00

Base Amount + Options$1,290,000.00

Date Signed2026-03-04

Contract DescriptionTHE PURPOSE OF THIS REQUIREMENT IS TO PROVIDE LENDER-PLACED INSURANCE ON PROPERTIES FINANCED THROUGH RURAL DEVELOPMENT HOUSING PROGRAMS TO MITIGATE RISK TO RD'S PORTFOLIO OF PROPERTIES WHEN THE BORROWERS FAIL TO PROVIDE ADEQUATE INSURANCE THEMSE

Start Date2026-03-30

End Date2027-03-29

Agency Details

Awarding AgencyDepartment of Agriculture

Awarding Sub AgencyRural Housing Service

Awarding OfficeUSDA/RD/CONTRACT OPERATIONS BRANCH

Funding AgencyDepartment of Agriculture

Funding Sub AgencyRural Housing Service

Funding OfficeRURAL HOUSING SERVICES

Recipient Details

RecipientPROCTOR FINANCIAL INC.

Recipient Location700 TOWER DR TROY MICHIGAN, UNITED STATES

Business CategoriesCategory Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Comments

Award Transactions

Transaction #0 | $258,000.00March 4, 2026

Rural Housing Service, a sub agency of Department of Agriculture, issued a payment of $258,000.00 to PROCTOR FINANCIAL INC.. The payment included a Subsidy Cost of $0.00.