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Nebraska
Housing

Business and Cooperatives

Business and Industry Loan Guarantee Program

Provides loan guarantees for business and industrial development to create and maintain employment, expand, and to improve economic climate.  Projects include business/industrial acquisition, construction, enlargement, modernization, real estate, buildings, equipment, working capital and refinancing.

Eligibility:

  • Eligible applicants include individuals, partnerships, non profits, corporations, LLCs, Native American tribes, cooperatives, etc.

 

Guaranteed Loan Terms and Conditions:

  • The interest rate is negotiated between the applicant and the lender and can be either fixed or variable.

 

  • The maximum term of a loan for real estate is 30 years, equipment 15 years, and for working capital seven years.

 

  • The minimum tangible net worth requirements are 10 percent for existing businesses and 20 percent for new businesses.  A minimum of 25 percent equity for biobased projects.

 

  • Loan guarantees are issued by USDA Rural Development on loans originated by commercial lenders to applicants/businesses.

 

  • Program availability is contingent upon fiscal year funding.

 

  • Eligible areas include unincorporated rural areas, cities, and towns with populations of less than 50,000. 

 

 

 

 

 

 

 

See Also
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Last Modified:05/07/2013 
 
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