For Rural Community Financing
The USDA B&I Loan Guarantee Program is a loan program that is specifically directed to the needs of businesses, companies, nonprofits and other organizations that are located in rural communities (those with populations less than 50,000). Depending on the loan amount, a qualified borrower may have between 60 and 80% of their loan guaranteed by the federal government.
Loan Features
- High loan-to-value terms
- Longer repayment schedule than conventional loans
- Fully amortized, no balloons, no call dates
Summary
- Competitive rates available
- From $1MM to $10MM (but up to $25MM possible)
- Up to 30 year term for real estate
- Up to 15 year terms for equipment
See if Your Project Qualifies?
- Click the link directly above or
- email salves@veritasda.com with your project's city, state and type of business to see if you may qualify
- Real estate: maximum LTV of 80%
- Equipment and machinery: maximum LTV of 70%
- Inventory, supplies and A/R: maximum LTV of 60%
- Real estate: up to 30 years
- Machinery and equipment: 15 years (or useful life)
- Working capital: up to 7 years
- Existing business: min. of 10% tangible balance sheet equity
- Start-up business: min. of 20% tangible balance sheet equity