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Benefits To Business:
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Higher loan amounts, lower interest rates, longer repayment terms
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Assists a business in providing stability, growth, expansion, and rural employment
Eligible Areas:
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Business and Industry loans are made by authorized lenders in rural areas including all areas other than cities or towns of more than 50,000 people and the contiguous and adjacent urbanized areas of such cities or towns. Priority is given to applications for loans in rural communities of 25,000
population or less.
Eligible Borrowers:
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Individuals, corporations, cooperatives, partnerships, and other legal entities, private and public, organized and operated on a profit or nonprofit basis; and Federally recognized Indian tribal groups.
Eligible Loan Purpose:
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Business and industrial acquisitions, construction, conversion, expansion, repair, modernization, or development costs.
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Purchase of equipment, machinery, or supplies.
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Start up costs and working capital.
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Processing and market facilities.
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Refinancing for viable projects, under certain conditions.
Maximum Loan Amount:
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Loan guarantees are generally limited to a maximum of $10 million per borrower, although the RBS Administrator with concurrence of the Under Secretary for Rural Development, may approve up to $25 million.
Loan Guarantee Limits:
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80% for loans of $5 million or less
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70% for loans over $5 million and up to and including $10 million
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60% for loans exceeding $10 million and up to and including $25 million
Collateral - Appraisals:
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All collateral must secure the entire loan
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Repayment must be reasonably assured
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Personal and corporate guarantees are required
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Appraisal reports prepared by qualified individuals are required on property that will serve as collateral.
Maximum Repayment Terms:
How To Participate and More Information:
Contact Marie
Free
Qualifying Consultation.
Call 610 428 2250
e mail
Inquiry ~ Application
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Can
When Banks Cannot!
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