CRELender’s Specialized USDA Business & Industry (B&I) Guaranteed Loans Program Division offers purchase, refinance, and construction loans for commercial real estate in rural communities. The subject property must generally be located in areas with populations of less than 50,000 to qualify for the USDA B&I loan program. Owner and non-owner occupied properties are eligible. The CRELender USDA B&I Division offers loans up to $40,000,000 with flexible, longer terms and lower rates than alternative financing through our streamlined application and closing process.
The purpose of the CRELender B&I Guaranteed Loan Program Division is to improve, develop, or finance business, industry, and employment as well as improve the economic and environmental climate in rural communities across the United States. This purpose is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide lasting rural community benefits. The United States Department of Agriculture (USDA) Rural Development’s Business and Industry (B&I) Division helps create jobs, stimulates manufacturing, and provides credit to growing business in rural communities. The USDA B&I slogan is, “Committed to the Future of Rural Communities.”
Higher leverage is now up to 90% LTV, and relatively flexible underwriting standards. Our USDA B&I loans are normally amortized over 30 years, which can have a dramatic increase in cash-flow compared to a more typical 20-year schedule. Also, the USDA B&I loans never have balloon clauses and can be less expensive than comparable SBA business loans. Borrowers can finance a wide variety of working capital for eligible properties such as inventory, supplies, fixtures, furniture, machinery, equipment, convert businesses, performance expansions, repairs of existing buildings, and modernization of site improvements. Securing financing in small towns is often a very difficult tasks as most national and regional banks will not lend to borrowers with commercial real estate located in communities with less than 50,000 people. The USDA B&I Division of CRELender offers commercial real estate financing to fill that void.
The CRELender USDA B&I Division consists of a team of leaders working together to meet the specialized needs for distinguished clientele needing rural business financing. The CRELender USDA B&I Division works on these loans every day, making a big difference when dealing with all of the paperwork and procedures that come with this type of loan. We often work with borrowers who have been dealing with different banks, but end up with us specifically for our USDA B&I experience. By taking the time to get to know your business, we can put together the right loan or loans to help you get where you want to go.
The USDA B&I loans we’ve funded have created and preserved jobs around the United States. As a leader in USDA B&I loans, we are proud and joyful to be able to support so many businesses and help to keep people employed. Our experience with the USDA B&I process as a whole has helped the CRELender UDSA B&I Division provide loans with great success despite the difficult economic times. CRELender’s USDA B&I Division is committed to improving the rural economics by promoting environmental climate conservation, ecosystem-friendly development, and the reduction of reliance on nonrenewable energy resources by encouraging the development and construction of solar energy systems and other renewable energy systems.
There are a few stipulations that individuals must follow in order to apply for a USDA B&I guaranteed loan. These include, but again, are not limited to: the borrower must be able to provide future employment, will improve local economy or environmental concerns, will support conservation, and promote the development of renewable energy resources.
We also offer lending services for cooperative organizations, partnerships or corporations, public and private organizations, for profit, and nonprofit. Corporations or other nonpublic body organizations need to be at least 51 percent owned by persons who are either citizens of the U.S. or reside in the U.S. after being legally admitted for permanent residence. There is no restriction on the size of the business being developed. The closing costs and other fees are also eligible to be included in loan amounts.