If your business is located in a rural community, you may qualify for special financing. The U.S. Department of Agriculture (USDA) currently maintains a Business and Industry Guaranteed Loan Program. The USDA provides guarantees of up to 80 percent of a loan made by a commercial lender.
Proceeds from such a loan may be used for:
- Expansion of Existing Facilities
- Refinancing of Current Debt
- Equipment Purchases
- Working Capital
- New Construction
- Business Startup
Who needs a USDA Loan?
A USDA loan (also called a Rural Development Loan), may be the best option for individuals, corporations and other for-profit and nonprofit entities in designated rural communities. The loan can be used for a variety of purposes at competitive interest rates and flexible terms.