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08-03-2023, 08:40 AM #1
- Join Date
- Oct 2022
- Posts
- 281
USDA
Rural Business - Cooperative
Programs
Purpose
Amount of Assistance
Fees
Eligible Applicants
Eligible Areas
Authorized
Use of Funds
Rates & Terms
Equity
Required
Important key points to know
Business & Industry Guarantee
B&I Guaranteed Loan
Provide an incentive for business lending that will save & create jobs in rural areas 80% loan guarantee
Loan max
$25MM
(Co-Ops can go up to $40MM) G-Fee: 3% at closing
Construction LNG Fee: 0.50% at closing
Renewal fee: 0.50% Lender applies on behalf of:
For Profit
Non-Profit
Cooperative
Public Bodies
Tribes Areas outside the urbanized edge of cities of >50,000 population Real estate
Machinery & equipment
Working capital,
Refinancing Rate variable or fixed – determined by Lender.
Term Max:
30 Yrs
Based on use of funds or collateral Existing Bus: 10%
New Bus w/sales contracts: 10%
New Bus with Construction: 25%
New Bus no construction: 20% Business must have strong equity & collateral.Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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