usda home loan zones
USDA Commercial Loan Rates for 2011
If are a construction business owner or a tool rental business in a town with a population of less than 50,000 people, or you are a farmer, and you’re reading this, you’re probably thinking that now might be an excellent time to expand that farm or business. Or upgrade/replace some of your equipment. And you’re right.
But where the devil do you turn to obtain the kind of financing you’ll need to expand the business or make a major purchase like that? Thanks to the economy of the last several years, your friendly local or not so local banker due to the banking industry consolidating, may not be quite so friendly anymore.
Don’t give up. Look to the good old United States Department of Agriculture (USDA). According to a USDA official Website, http://www.usda.gov , individuals, corporations (both for-profit and non-profit), proprietorships and partnerships, cooperatives, LLCs, public bodies, and Federally-recognized Indian tribes are all eligible to borrow up to $1 million through the USDA’s Business & Industry Guaranteed Loan Program. Terms range from seven years (working capital) to {15|fifteen) years (equipment), all the way up to thirty years for land and buildings.
Of course, you want to know about today's commercial USDA loan rates. Commercial USDA loan rates today can be fixed or variable, but in the case of variable, they cannot be adjusted any more frequently than quarterly. Commercial USDA loan rates are calculated by published base rate.
With a USDA B&I (Business and Industry) Guaranteed Loan, balloon payments are not allowed. However, smaller payments may be scheduled for the first three years.
What sorts of ventures don’t qualify for a a USDA B&I Guaranteed Loan today? Golf courses, for one, Owner-occupied, and rental housing projects are just a few examples. Lending, investment, insurance companies, churches, church controlled and charitable organizations, fraternal organizations, and projects costing over $1 million and involving the relocation of more than 50 jobs are out. They don’t qualify for USDA, but are eligible for other lending programs. Besides these few restrictions, http://www.usda.gov are reasonably flexible, as long as the business or project is located in a rural area or a municipality of less than 50,000 people.
Farms, collectives, and small family business are eligible for USDA government guaranteed commercial loans. Adding a parlor or processing facility is now easier and more affordable with USDA loans. The goal for the USDA is to stimulate employment in rural areas.
Venture Funding Group can help you get your USDA B&I Guaranteed Loan and Commercial USDA loan rates today with their FAST TRACK program. They digitize your loan and look at a vast quantity of funding sources right away due to the fact that USDA B&I Guaranteed Loans and commercial USDA loan rates are actually originated by qualified private lenders, such as banks and credit unions.
Venture Funding Group is an expert in working with the USDA B&I Guaranteed Loan Program to help entrepreneurs (and this includes farmers) to get the funding that they need and deserve.
If you own land or any type of commercial or industrial real estate in a rural area or small town, your capital can be as good as in your pocket. Or, more accurately, your bank account. So use the power of your pen to build your business.
To find out today’s Commercial USDA Loan Rates, click http://thesbaloan.com/usda.php now for absolutely free consultation and advice on USDA commercial loans. Or call us at 1-800-578-4884.
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