New Broker Registration
USDA Business & Industry Loans (B&I)
The purpose of the B&I Guaranteed Loan Program is to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rural communities. This purpose is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide lasting community benefits.
Acceptable Market area:
Nationwide, Rural areas with town population < 50,000
Guidelines:
Eligible uses: |
Purchase, Refinance, Building Renovations, Working Capital, Equipment |
| Property Type: | Most Commercial property types eligible |
Loan Amount (min/max): |
$500,000 to $10MM |
LTV (max): |
80% |
Amortization / Term: |
30 / 30 (Equipment 15 yr, blended) |
Minimum FICO: |
650 |
Minimum DSCR: |
1.20x (O/O), 1.40-1.50x (Inv.) |
Ineligible: |
Multifamily, Church, Restaurant, Bar, Gas Station |
Interest Rates: |
10 yr fixed at 7.5%, then converts to ARM (prime + 1.5%) OR ARM at (Prime + 2%) |
Seasoning: |
Minimum 1-2 years |
| Pre-payment Penalties: | 5,4,3,2,1 |
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