Certified USDA Loan Service Provider
USDA Business & Industry Loan Programs (B&I)
The USDA Business and Industry (B&I) Guaranteed Loan Program is designed to assist rural businesses in communities of 50,000 or less obtain credit for most any legal business purpose. A borrower may be a corporation, partnership, individual, cooperative organization or other legal entity organized and operated on a profit or non profit basis. Individual borrowers must be citizens of the United States and corporations must be 51% owned by persons who are citizens of the United States.
Business and Real Estate acquisitions, construction, conversion, expansion, repair, modernization or development.
Purchase of equipment, machinery, or inventory.
Start-up costs and working capital.
Refinancing for viable projects.
For existing businesses, a minimum of ten percent (10%) tangible balance sheet equity is required at the time of issuing the loan note guarantee. For new businesses, twenty percent (20%) tangible balance sheet equity is required. Equity is calculated in accordance with general accepted accounting principles (GAAP).
Benefits to Businesses
Higher loan amounts
Less equity injection, lower interest rates and longer repayment terms assist businesses that may not qualify for conventional lender financing
Assist a business in providing stability, growth, expansion, and rural employment.
Our experienced team will:
Benefits to Lenders
Government guaranteed lending can be a great tool for providing customers with the financing they need. These programs also present challenges many lending institutions may not be staffed to handle.
For lenders our services include: