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. If your business is located in a rural community, you may qualify for special financing. 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
- Renovations
- Business Startup
Features & Benefits
- Loan guarantees of 80% on loans up to $5 million
- Flexible credit qualifications
- No loan amount limitations
Terms
