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Similar to CertusBank USDA B&I Loan Program
Similar to CertusBank USDA B&I Loan Program (20)
CertusBank USDA B&I Loan Program
- 1. USDA B&I LOANS
• Projects financed under the B&I program must be located in the United States or its
possessions/territories and must be in a rural area (defined as having a population of less
than 50,000)
• Any legal entity including individuals, public and private organizations and federally
recognized Indian tribal groups
• There is no size restriction on the business
• B&I Loans may involve acquisitions, construction, conversion, repair, modernization or
debt refinance
• Loan proceeds can be used for real estate acquisition and/or improvements, machinery,
equipment, furniture, fixtures and working capital. Closing costs and guarantee fees are
also eligible
• For existing businesses: a minimum of 10% tangible balance sheet equity is required at the
time of issuance of the Loan Note Guarantee
• For start-up businesses: a minimum of 20% tangible balance sheet equity is required at the
time of issuance of the Loan Note Guarantee
• Equity is determined in accordance with Generally Accepted Accounting Principles (GAAP)
• All B&I loans are fully amortized with no balloons or call dates
• Maximum repayment terms are up to 30 years for real estate and improvements, up to 15
years (or useful life) for machinery, equipment, furniture and fixtures and up to 7 years for
working capital
• Rates are based on a spread over the Prime Lending Rate. Rates vary depending on the
specific strengths of the transaction.
• A one-time Guarantee Fee of 3% of the guaranteed principal amount is due to USDA at
loan closing. Other customary fees also apply
• Pre-screen service available within 24 hours with no charge or obligation by providing
limited information
For more information, or to make a referral, please contact:
877.893.7823
CertusBank.com/SBA
CertusBank, N.A. Member FDIC. Equal Housing Lender. © 2013 CertusHoldings, Inc. All rights reserved. CertusBank, N.A. is a
trademark of CertusHoldings, Inc. For further information on our Company, please visit our website at CertusBank.com. For Investor
information, visit the CertusHoldings, Inc. website at CertusHoldingsinc.com.
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