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Business and Industry Loan Guarantee Program Overview

Kimball Co-op Food Pride Store  Kimball, Nebraska

Kimball Co-op Food Pride Store    

Kimball, Nebraska

 

The Purpose Of The Business And Industry (B&I) Loan Guarantee Program Is...To provide 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.

 

Eligible Applicants Include...Individuals, partnerships, non-profits, corporations, LLCs, Indian tribes, cooperatives, etc.

 

Are You Eligible?  Visit http://eligibility.sc.egov.usda.gov to see if you are eligible for a Business and Industry Loan Guarantee.

 

Terms And Conditions...

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

   
 Maximum term of loan for real estate is 30 years, equipment 15 years, and for working capital 7 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. 
   

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

   

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.

   

View...The detailed Business and Industry Loan Guarantee Fact Sheet.

            The Rural Development Guaranteed Programs matrix.

 

Locate And Contact...Your local lender or your nearest USDA Rural Development Office.

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Last Updated:  07/13/09

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