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Direct Business and Industry Loans

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There is currently no funding for this Program.

HOW TO APPLY:

Click here to contact the Maine State Office. Basic information will be provided over the telephone.

OBJECTIVE:

The objective of the Business and Industry (B&I) Direct Loan Program makes loans to businesses to benefit rural areas.  The primary purpose of this program is to create and maintain employment and improve the economic and environmental climate in rural communities.

ELIGIBLE APPLICANTS:

Most Legal Entities

Individuals

Public and Private Organizations

Federally or State Recognized Indian Tribe or Tribal Group

AREAS SERVED:

Rural communities with 25,000 or less population

LOAN PURPOSES:

Business and industrial acquisitions, construction, conversion, expansion, repair, modernization, or development costs

Purchase of equipment, machinery, or supplies

Start-up costs and working capital

Processing and marketing facilities

Pollution control and abatement

Refinancing for viable projects, under certain conditions

RATES AND TERMS:

Maximum loan of $10 million per borrower

Working capital repayment term -- 7 years

Machinery and equipment repayment term -- 15 years

Real estate repayment term -- 30 years

SECURITY:

All collateral must secure the entire loan.   Repayment must be reasonably assured.  Personal and corporate guarantees are required.  A qualified appraisal report is required on property that will serve as collateral.

 

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 Click here to obtain more information on our B&I  program, or to request an application.

 If you would like to review USDA Regulations, Procedures, Notices, RD Forms or RD Handbooks, Click Here.

 

Return to Business Programs.

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