Financing options for businesses in rural areas with the USDA's Business & Industry Loan
Businesses that operate in rural areas may be eligible for financing through the U.S. Department of Agriculture’s Business & Industry Loan (B&I) program. USDA Business & Industry Loans are designed to maintain employment and improve the economic climate of rural areas by strengthening the availability of private credit. Loans are available to businesses of any size for a variety of purposes.
Benefits of a USDA Loan For Businesses
- Makes it easier for businesses in rural communities to access financing
- Most types of businesses qualify
- Large average loan amounts
- Competitive interest rates and terms
What Are USDA Business Loans Used For?
- Expand or acquire a business
- Purchase commercial real estate
- Purchase equipment or inventory
- Working capital
- Refinance other debts
- And more!
Is My Business Eligible for a USDA Loan?
- Located in a rural area (defined by the USDA as city or town with a population of less than 50,000 people).
- Good credit score
- Proof of revenue
- Ability to provide collateral
- Personal guarantee
- Business owner is a U.S. citizen or permanent resident
See if you qualify for a USDA Business & Industry Loan today!
Looking for USDA business loans in Iowa? LSB has been serving Iowa businesses for more than a century. Contact one of our local commercial lenders!