• For purchase, construction or debt refinance of real estate, machinery and equipment, and working capital for eligible properties meeting the USDA criteria for rural area location (owner and non owner occupied properties eligible)

USDA Loan Features:

• Size of Loans:
  • Up to $10 Million

• Terms of Loans:
  • 7 to 30 years fully amortized, competitive rates

• Loan Advance Rates:
  • Up to 90% depending on the equity and type of project

• Loan Costs:
  • Bank loan fee
  • B&I guaranty fees range from 1% to 2% of loan amount depending on the project
  • Loan packaging fee, appraisal, environmental, title/escrow, construction fees vary depending on size of project

• Loan Turnaround Times:
  • 10 business days for Bank approval upon receipt of complete application package
  • 60 to 90 days for initial funding from receipt of complete loan application package and approval by USDA

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