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Trace Die Cast, Inc. in Bowling Green,
KY
received a guaranteed business and industry loan
BUSINESS AND INDUSTRY GUARANTEED LOANS
Purpose: To expand financing opportunities for new, existing, and expanding rural businesses in order to maintain and/or create jobs
Program Type: RBS provides a guarantee to a private sector lender
Eligible Applicants: Qualifying banks and other lending institutions
Eligible Areas: Any area other than a city or town with a population of greater than 50,000 and the urbanized areas contiguous and/or adjacent to such a city or town
Authorized Purposes: Guarantees may be issued for loans obtained to purchase or improve real estate, equipment, and working capital
Rates and Terms: Negotiated between applicant and lender; fixed or variable rates, fully amortizing; interest rate is typically near prime
When To Apply: Year round
Who to Contact: Local banks and lending institutions; Kentucky Rural Development's Business and Cooperative Programs office can be reached at 859/224-7435; additional information can be viewed on the BCP national webpage