USDA Business & Industry Loans (B&I)

You're working hard to make the local community a better place, so we work hard to do whatever we can to help support. As a USDA Business & Industry Loan provider, we're proud to help qualified businesses work toward their goals of improving, developing, and providing a source of employment for local surroundings.
 
From business and industrial acquisitions, to conversions, and many things in between, this government-backed loan offers your business accommodating financing options.
 
  • Aimed to improve development in rural areas by improving, developing, or financing business, industry, and employment
  • Specialty financing for qualifying businesses, guaranteed by the USDA
  • Competitively low rates for a wide range of business needs:*
  • Business and industrial acquisitions
  • Business conversion, enlargement, repair, modernization, or development
  • Purchase and development of land, equipment, machinery, supplies, or inventory
  • Collateral is required of sufficient value
  • $10 million dollar standard maximum**
  • Real estate repayment terms up to 30 years
  • Machinery and equipment repayment will not exceed the useful life of the purchase or 15 years, whichever is less
  • Working capital repayment terms up to 7 years
  • Local, Finger Lakes region decision-making and processing
  • Focused, customized attention from start to finish
*Subject to credit approval
 
**The Secretary may approve guaranteed loans in excess of $25 million, up to $40 million, for rural cooperative organizations that process value-added agricultural commodities.
Who May Borrow?
 
A borrower may be a cooperative organization, corporation, partnership, or other legal entity organized and operated on a profit or nonprofit basis; an Indian tribe on a Federal or State reservation or other Federally recognized tribal group; a public body; or an individual. A borrower must be engaged in or proposing to engage in a business that will:
  1. Provide employment;
  2. Improve the economic or environmental climate;
  3. Promote the conservation, development, and use of water for aquaculture; or
  4. Reduce reliance on nonrenewable energy resources by encouraging the development and construction of solar energy systems and other renewable energy systems.
 
Individual borrowers must be citizens of the United States (U.S.) or reside in the U.S. after being legally admitted for permanent residence. Corporations or other nonpublic body organization-type borrowers must 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. B&I loans are normally available in rural areas, which include all areas other than cities or towns of more than 50,000 people and the contiguous and adjacent urbanized area of such cities or towns.
 
HAVE YOU STARTED SAVING FOR YOUR FUTURE?

Your future self is waiting.