Who Qualifies for a USDA B&I Loan?

Please click on the highlighted text to submit your USDA business and industries loan to several dozen USDA lenders.  After entering your contact information, please be sure to check the checkbox on the main data entry page that reads, "Check here if you need a USDA Business and Industry Loan".

In order for your commercial loan to qualify for a guarantee from the U.S. Department of Agriculture, it needs to be located in a rural community.  Normally this means a town of less than 50,000 people.

However, a great many cities in suburbia have a population of less than 50,000 residents, but these suburban cities are far from small rural towns.  They sit right next to population centers with hundreds of thousands of people.  Therefore they are not the type of small, rural community that needs help getting commercial financing.

To see if a property is eligible for a USDA B&I loan go to the following website:

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=rbs

When the page comes up, click “I Accept”. It will take you to a map and you type in the address completely. You have to make sure that the address has street, city and zip code. This is essential. It will then bring up a map and tell you automatically if the property is eligible or ineligible.

Below is a list of the authorized uses of the loan funds.  A borrower must be engaged in, or proposing to engage in, a business that will (1)  Provide employment; (2)  Improve the economic or environmental climate; (3)  Promote the conservation, development, and use of water for aquaculture; or (4)  Reduce reliance on nonrenewable energy resources by encouraging the development and construction of solar energy systems, and other renewable energy resources.

Authorized Loan Purposes:

(1)  Business and industrial acquisitions, construction, conversion, expansion, repair, modernization or development costs.

(2) Purchase of equipment, machinery or supplies.

(3)  Start-up costs and working capital.

(4)  Processing and marketing facilities.

(5) Pollution control and abatement.

(6) Refinancing for viable projects, under certain conditions.

(7) Purchase of start-up cooperative stock for family sized farms where commodities are produced to be processed by the cooperative.

Please click on the highlighted text to submit your USDA business and industries loan to several dozen USDA lenders.  After entering your contact information, please be sure to check the checkbox on the main data entry page that reads, "Check here if you need a USDA Business and Industry Loan".