Program

USDA Guaranteed Business and Industry Loan Program                         

Minimum/Maximum Amounts

No stated minimum. Maximum is $10 million (up to $25 million with approval from the national office.

Eligible Activities

Working Capita; Machinery and Equipment;
Land/building purchase and construction

Term & Amortization

Up to 7 years on working capital: 15 years on
equipment and machinery; 30 years on real estate

Rate

Negotiated between applicant and lender.

Fees

2% of the guaranteed portion of the loan

Loan Processing Considerations

Special Notes

Cities with populations in excess of 50,000 people and their contiguous urbanized areas are not eligible as this is a program specifically designated for rural America.

Job Creation/Retention Requirements

No specific goals.  However, purpose of program is to save and/or created sustaining wage jobs in rural Pennsylvania

Where to Apply

All applications are made through and by your lender.  The lender then applies for the guarantee on their loan.

Contact Person

Most information is obtainable on web page.
Harrisburg Office:  717-237-2189

Web link

http://www.rurdev.usda.gov/pa/PA_RD_RBS_Program.htm    

Application Download Available