Business and Industrial Loans

Business and Industry (B & I) guaranteed loan program aims to develop or enhance business finance, industry and employment in rural communities and improving the economic and environmental climate. In this task, the benefits of a sustainable society can be achieved with loan guarantees the quality of the existing private credit structure will allow the expansion.

General Program Requirements
May be a debtor:

* Individual
* A cooperative, company, partnership or other legal entity organized and operated as a profit or not-for-profit
* Federal or State Indian tribe on a reservation or other federal or tribal groups accept
* A public corporation.

A debtor must attend or be a busy job offers:

* Provide employment
* Improve the economic or environmental climate
* Promoting conservation, development and production or water use
development and encourage construction of renewable energy systems to reduce the nonrenewable energy sources * trust.

Individual borrowers must be U.S. citizens or legal permanent U.S. resident after the resident has applied for. Institutions or other non-governmental organizations to organization-type borrowers at least 51 percent of the United States or citizens or permanent U.S. residency after being legally admitted for residence must be owned by individuals. B & I loans are generally available in rural areas.

Credit conditions
guaranteed interest rate for a loan between the lender and the applicant may be fixed or variable rates as a legal negotiations will be long. Interest rates are subject to Agency review and approval. Variable interest rate loans for the duration of different intervals, but more often a month might not be adjustable to adjust.

years and as a lender is required to ensure the applicability of warranty replacement fee is paid once a year. Also in an up-front guarantee fee is 2 percent. A limited amount of loan fee of 1 percent, subject to meeting regulatory requirements can be guaranteed.

real estate loans for a maximum repayment of 30 years shall not exceed, machinery and equipment, reimbursement of machinery and equipment loan fund, or 15 years, whichever is less purchased with the useful life not exceeding, and working capital repayment for seven years does not pass.

The total amount of Agency loans to one borrower may not exceed $ 10,000,000. Managers, executives at the discretion of the $ 10,000,000 limit of $ 25 million loan under certain conditions may be an exception. Secretary exceeding $ 25,000,000 up to $ 40 million, for rural cooperative organizations that process value added agricultural commodities may approve loan guarantees.
Your Next Steps

The following information for the next steps will be taken to apply for this help.

Application Process
USDA Rural Development State Office for complete application must be submitted to the project site. Loan applications can be found by visiting:
http://www.rurdev.usda.gov/wi/Programs/rbs/library/full-application-business-and-industry.pdf

Program Contact Information
A list of offices and additional information can be obtained from:
http://www.rurdev.usda.gov/recd_map.html

For more information, please visit:
http://www.rurdev.usda.gov/rbs/busp/b&I_gar.htm