A USDA Business and Industry Loan may be right for you if you’re purchasing commercial real estate in a rural area, or if you’re in an urban area and qualify for the Local and Regional Food System Initiative. The definition of rural, based on the eligibility requirements of the USDA, is 50,000 people or less.
USDA B&I loan proceeds may be used to purchase commercial real estate that will be used for business purposes, or for the development of existing commercial real estate. It can also be used for business acquisitions. The benefits of this loan program are competitive rates, lower downpayment requirements and longer repayment terms than most conventional loans – up to 40 years.
Interested in seeing if you quality for a USDA B&I loan?
Our team of experienced lenders is available to talk to you today. Reach out to us to find out how we can help.
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Fill out our online form to see if you qualify for a USDA B&I loan.
*The Bank of Edison does not lend in the following states – Arizona, California, Hawaii, Nevada, North Dakota, South Dakota or Vermont