Apply for US Government Business and Industry Loans

Government of the United States is currently offering business and industry loans to citizens and residents of the US. Owners of reputable businesses and industries are called to utilize this opportunity to secure low interest loans and give their business a unique boost. These loans are available for both small business owners and big business owners, including owners of industries. It is streamlined under the OneRD Guarantee Loan Initiative through qualified lenders.

Lenders are required to have the legal authority, financial strength, and sufficient experience to operate a successful lending program. This includes lenders that are subject to supervision and credit examination by the applicable United States agency or a State including:

• Federal and State-chartered banks
• Savings and loans
• Farm Credit Banks with direct lending authority
• Credit unions

Who can apply for the US Government Business and Industry Loans?

The following categories of persons can apply for the loans

• For-profit or non-profit businesses
• Cooperatives
• Federally-recognized Tribes
• Public bodies
• Individuals engaged or proposing to engage in a business.

Where are the Eligible Locations for the Loans?

• Rural areas with a population of more than 50,000 inhabitants
• The borrower’s headquarters may be based within a larger city, as long as the project is located in an eligible rural area
• The lender may be located anywhere in the United States
• Projects may be funded in either rural or urban areas under the Local and Regional Food System Initiative

What the Guaranteed Loan Funds may be used for?

The Us Government US Government Business and Industry Loans may be used for the following among others:

• Business conversion, enlargement, repair, modernization, or development
• Purchase and installation of machinery and equipment, supplies or inventory
• Purchase and development of land, buildings, and associated infrastructure for commercial or industrial properties
• Business and industrial acquisitions when the loan will maintain business operations and create or save jobs
• Debt refinancing when such refinancing improves cash flow and creates jobs.

Loan Terms

The lender, with Agency concurrence, will establish and justify the guaranteed loan term based on the use of guaranteed loan funds, the useful economic life of the assets being financed and those used as collateral, and the borrower’s repayment ability. The loan term will not exceed 40 years.

US Government Business and Industry Loans Interest Rates

• Interest rates are negotiated between the lender and borrower
• Rates may be fixed or variable
• Variable interest rates may not be adjusted more often than quarterly.

How to apply?

• Applications are accepted from lenders through USDA local offices year-round
• Interested borrowers should inquire about the program with their lender
• Lenders interested in participating in this program should contact the USDA Rural Development Business Programs Director in the state where the project is located.

Apply here!