Business & Industry Loan Guarantees Program
Join us for a presentation on the Business and Industry Loan Program. We will be highlighting an overview of the program's loan qualifications, funding requirements, application guidelines, terms, and more.
What does this program do?
This program improves the economic health of rural communities by increasing access to business capital through loan guarantees. This enables commercial lenders to provide affordable financing for rural businesses.
Who may apply for this program?
•For-profit or non-profit businesses.
•Individuals engaged or proposing to engage in a business.
How may guaranteed loan funds be used?
Eligible uses include (but are not limited to): Business conversion, enlargement, repair, modernization or development. The purchase and development of land, buildings and associated infrastructure for commercial or industrial properties. The purchase and installation of machinery and equipment, supplies or inventory. Debt refinancing when such refinancing improves cash flow and creates jobs. Business and industrial acquisitions when the loan will maintain business operations and create or save jobs. NOTE: Agricultural producers and small businesses must have NO outstanding delinquent federal taxes, debt, judgment or debarment.