The U.S. Department of Agriculture purpose of the B&I (Business and Industry) Guaranteed Loan Program is to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rural communities. This purpose is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide lasting community benefits. Loan amount cannot exceed 80% of the market value of collateral determined by an independent appraiser. The total amount of Agency loans to one borrower must not exceed $10 million. Terms on real estate cannot exceed 30 years; machinery and equipment repayment will not exceed the useful life of the machinery and equipment purchased with loan funds or 15 years, whichever is less; and working capital repayment will not exceed 7 years.
Small businesses are several different sizes and shapes in their structure. Most of them start out as sole proprietorships with little earnings to revenues of a million annually. Out entire US economy is dependent upon small businesses. They are the cash engines that support local economies and keep the national economy running.
Veillon Business Consulting, LLC helps small business owners develop affordable strategies for growth, re-structure, and capitalization on just about any loan of any size. VBC leverages Randy Veillon‘s 30+ years in banking, finance, and state economic development as well as his close contacts with enormous commercial loan lenders, SBA, and USDA to help local businesses like yours plan for capital and position them for success in the capital raising process. Don’t wait another minute – contact us today.