SBA and USDA B&I Loans
We specialize in SBA Loans and USDA Loans for owner/operated businesses located throughout the U.S. We can assist with a USDA B&I Loan up to $20 Million. Our primary SBA Loan Program is the SBA 7(a) Loan however we also offer the SBA 504 Loan up to $20 Million.
We offer the SBA 7(a) Loan for owner/operators of small businesses throughout the U.S. Some highlights of the SBA 7(a) Loan are as follows:
- Acquiring, refinancing, or improving real estate and buildings
- Short- and long-term working capital
- Refinancing current business debt
- Purchasing and installation of machinery and equipment, including AI-related expenses
- Purchasing furniture, fixtures, and supplies
- Changes of ownership (complete or partial)
- Multiple purpose loans, including any of the above
The maximum loan amount for a 7(a) loan is $5 million (we may be able to assist with a higher loan amount). Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates
The 504 loan program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation.
504 loans are available through Certified Development Companies (CDCs), SBA’s community-based nonprofit partners who promote economic development within their communities. CDCs are certified and regulated by SBA.
The maximum loan amount for a 504 loan is $5.5 million, however we can assist up to $20 Million on the 504 Loan.
A 504 loan can be used for a range of assets that promote business growth and job creation. These include the purchase or construction of:
- Existing buildings or land
- New facilities
- Long-term machinery and equipment with a useful remaining life of a minimum of 10 years, including project-related AI-supported equipment or machinery for manufacturing products
Or the improvement or modernization of:
- Land, streets, utilities, parking lots and landscaping
- Existing facilities
A 504 loan cannot be used for:
- Working capital or inventory
- Consolidating, repaying or refinancing debt
- Speculation or investment in rental real estate
- The financing of AI-related working capital, intellectual property, or consulting services soft costs
To qualify for a USDA B&I Loan the property must be located in a designated eligible area.
How may guaranteed loan funds be used?
Eligible uses include (but are not limited to):
- Business conversion, enlargement, repair, modernization, or development.
- The purchase and development of land, buildings, and associated infrastructure for commercial or industrial properties.
- The purchase and installation of machinery and equipment, supplies or inventory.
- Debt refinancing when such refinancing improves cash flow and creates jobs.
- Business and industrial acquisitions when the loan will maintain business operations and create or save jobs.
Guaranteed loan funds may NOT be used for:
- Lines of credit.
- Owner-occupied and rental housing.
- Golf courses or golf course infrastructure.
- Racetracks or gambling facilities.
- Churches or church-controlled organizations.
- Fraternal organizations.
- Lending, investment, and insurance companies.
- Agricultural production, with certain exceptions (1).
- Distribution or payment to a beneficiary of the borrower or an individual or entity that will retain an ownership interest in the borrower.
Who may qualify for these guaranteed loans?
- For-profit or non-profit businesses.
- Cooperatives.
- Federally-recognized Tribes.
- Public bodies.
- Individuals engaged or proposing to engage in a business.
What are the borrowing restrictions?
- Individual borrowers must be citizens of the United States, or reside in the U.S. after being legally admitted for permanent residence.
- Private-entity borrowers must demonstrate that loan funds will remain in the U.S., and the facility being financed will primarily create new or save existing jobs for rural U.S. residents.
