Partner with us on the New USDA Loan Program for Food Industry

Available only through Certified USDA Lenders

Let's Partner!

Program Overview

  • Rural and Urban locations eligible 
  • Fixed-interest rate option available 
  • Up to 40-year loan terms 
  • No USDA initial guarantee or annual renewal fees 
  • Refinancing limited to less than 50% of total loan amount 

Eligible Businesses

Businesses involved in the food supply chain including:

  • Food Manufacturing, Aggregation and Processing
  • Wholesaling & Distributiong

Use of Funds

  • Land & Buildings – convert, enlarge, repair, modernize or develop
  • Machinery & Equipment – purchase and installation 
  • Leased Facilities - building or equipping facilities for lease to public or private enterprises
  • Working Capital – increase operating liquidity

Yes, projects can be located in urban and rural areas.

Loans up to $40 million per borrower, with fixed interest rates and up to a 40 year repayment term, with no USDA fees which results in lower payments that improve the businesses’ cash flow.

  • Existing business needs either a minimum of 10% balance sheet equity or 10% or more borrower investment as a percent of total eligible project cost. New businesses needs 20–25% balance sheet equity or borrower investment as a percent of total eligible project cost , depending on construction financing requirements.
  • Discounted collateral value must at least equal proposed loan amount. 
  • Unsecured guarantees for the full term of the guaranteed loan and at least equal to the guarantor’s percent interest or membership in the borrower times the guaranteed loan amount are required from any person or entity owning a 20-opercent or greater interest in the borrower.   
Lincoln Savings Bank is a full-service Central and Northeast Iowa bank dedicated to local customers and communities since 1902.