A USDA Business & Industry Loan is a great tool for a Rural business to use when considering purchasing, building or renovating owner-occupied commercial real estate. The USDA Business & Industry Loan can also be used for non-real estate business only transactions, such as start-up, acquisition or expansion. With loan limits ranging from $1 Million to $25 Million, many business loan requests will fall into this range and 1st Commercial Lending is here to help.

An USDA Business & Industry Loan can be used for the following:

  • Purchase, Remodel or Expand your business
  • Refinance or Consolidate business Debt
  • Purchase or Refinance Equipment Debt
  • Construct, Expand or Improve Commercial Real Estate
  • Purchase or Refinance Commercial Real Estate
  • Working capital needs

In order for your business to meet the eligibility requirements for a USDA Business & Industry Loan, it must be for-profit and located in the United States with a net worth less than $15 Million and/or net income after taxes of less than $5 Million. If you are using the fund for real estate, you must occupy or plan to occupy 51% of the real estate as SBA funds are not for investment properties.

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Program Highlights

  • 640 minimum credit score
  • Loan amounts $1 Million to $25 Million
  • Must be located in Rural Markets (less than 50K population)
  • Interest rates start at prime + 1.50 (Currently 6.25%)
  • Low down payment
  • 30 year term for real estate / 15 year term for equipment / 7 year term for working capital

Guidelines:

Use of Proceeds

  • Real estate - purchase, construction, renovation or refinance of commercial real estate.
  • Business Acquisition - business, franchise or professional business.
  • Machinery & Equipment - purchase or refinance.
  • Working Capital

Terms

  • Commercial Real Estate
    • Up to 80% financing
    • 30 year term
  • Equipment
    • Up to 70% financing
    • 15 year term

USDA Loans must be underwritten and approved by the USDA sate offices. Additionally, loans whose size exceed the authority level of their local offices are subject to additional level of review and approval by the USDA national office.

The USDA requires that any owner with 20% or more of the equity of a borrower personally guarantee the laon.

Loan Proposal Issued In 24-48 Hours Guaranteed!

At 1st Commercial Lending, we pride ourselves on guiding each client through the often challenging and confusing process of Dental business Financing. Our Dental business Loan Specialists have over 35 years of combined lending experience and will work with you to evaluate the financial feasibility of the opportunity you are considering.

To speak with one of our business loan advisors and learn more about the SBA 7(a) Loan program, call us TOLL FREE at (800) 341-6199 or click here to get started online.

What Our Clients Have To Say

  • 1st Commercial Lending helped me in finding the best terms that I was able to get from any lender, and then saw the process through all the way to closing the deal, capably answering all of my questions and concerns along the way.

    Of all of the lenders that I came across in this search, I found David to be the most knowledgeable and resourceful; he had thorough knowledge of his industry.

    If you have a need for financing the purchase of an agency I would highly recommend that you put 1st Commercial Lending on the "short list" of lenders that you need to give strong consideration to working with.

    Ron Tinnerman - Tinnerman Ins. Agency

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