The USDA Business and Industry (B&I) Guaranteed Loan Program helps rural businesses to expand and improve by providing financial backing. This program provides guarantees by US Department of Agriculture of up to 90 percent of a loan made by the bank. Loan proceeds may be used to create jobs, improve environment and economic conditions, purchase machinery and equipment, buildings and real estate, and certain types of debt refinancing.

Eligibility
Generally these loans are available to anyone who is United States (U.S.) citizen or reside in the U.S. after being legally admitted for permanent residence and meets minimum credit guidelines and local area income requirements.

Borrower must also contribute towards betterment of the rural community by providing employment, improving economic and environmental climate, or Reduce reliance on nonrenewable energy resources by encouraging the development and construction of solar energy systems and other renewable energy systems.

Loan Amount
The total amount of Agency loans to an individual borrower must not go above $10 million. But under special circumstances loan limit can go up to $25 million, or even up to $40 million, for rural cooperative organizations that process value-added agricultural commodities.

Usage
Funds can be used in any area contained in the USDA regulations. For example funds can be used for business and industrial acquisitions to prevent the loss of employment opportunities, or provide expanded job opportunities. Borrowers can use the funds to purchase land, buildings, equipment, leasehold improvements, machinery, supplies, or business inventory.

Call us at 888-569-8380 or Click the button below to see if you qualify for a USDA Loan.