Who Is Eligible? Borrowers may be cooperatives, non-profit organizations, corporations, partnerships, or other legal entities; Indian tribes; public bodies; or individuals. A borrower must be engaged in or proposing to engage in a business that will:
- Provide employment;
- Improve the economic or environmental climate;
- Promote the conservation, development, and use of water for aquaculture; or
- Reduce reliance on nonrenewable energy resources by encouraging the development and construction of solar energy systems and other renewable energy systems.
What Activities Are Eligible? B&I Guaranteed Loans are used to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rural communities. Loan purposes include but are not limited to:
- Business and industrial acquisitions when the loan will keep the business from closing, prevent the loss of employment opportunities, or provide expanded job opportunities.
- Business conversion, enlargement, repair, modernization, or development.
- Purchase and development of land, easements, rights-of-way, buildings, or facilities.
- Purchase of equipment, leasehold improvements, machinery, supplies, or inventory.
Please see program website for more details on eligible loan purposes.
How much: Maximum of $10 million of total agency loans to one borrower.
Contact: Contact your Rural Development State Office: http://www.rurdev.usda.gov/recd_map.html.