USDA B&I: Loans for rural businesses
The US Department of Agriculture (USDA) Business and Industry (B&I) Guaranteed Loan Program is designed to increase economic development in rural areas.
B&I guaranteed loans provide a source to improve, develop or finance business, industry and employment in rural communities of 50,000 or fewer residents. Eligible borrowers may include for-profit businesses, non-profits, federally recognized tribes, public bodies and individuals. The Bancorp lending team works closely with the USDA to provide financing and expert guidance in the requirements for B&I loans.
Use of proceeds:
Business expansion/repair/modernization, business and industrial acquisitions, commercial real estate purchase, equipment and machinery, start-up costs and working capital
Loan amounts:
Up to $10 million for most ventures, with some exceptions up to
$25 million or more
Terms:
7 to 30 years depending on loan use
| Maximum LTV ratio | Down Payment | |
| Real Estate | 80% | 20% |
| Equipment/Machinery | 70% | 30% |
| Inventory, Supplies, Accounts Receivable |
60% | 40% |
Loan Uses Include:
Working capital
Do you need advance funds to cover a new job, cyclical sales or general operating costs? An SBA working capital loan keeps you in the game.
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Business Acquisition
If the purchase of a business or a partnership buyout is on your radar, our lending specialists can help you pinpoint the right financing with an SBA loan.
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Commercial real estate financing
From special-use facilities to multi-purpose properties to land purchase, we offer commercial real estate financing tailored to your business venture.
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