The Department of Agriculture’s Rural Business Cooperative Service runs a Business and Industry Guaranteed Loan Program to help get rural money to create jobs, and stimulate rural economies by providing financial backing for rural businesses.
This program provides guarantees up to 90 percent of a loan made by a commercial lender.
Loans may be used for working capital, machinery and equipment, buildings and Real Estate, and certain types of debt financing.
The primary purpose is to create and maintain employment and improve the economic climate in rural communities.
This is achieved by expanding the lending capability of private lenders in rural areas.
It helps you by making and servicing quality loans that provide lasting community benefits.
This rural money program represents a true private-public partnership.
Business and loan guarantees can be extended to loans made by recognized commercial lenders, or other authorized lenders in rural areas and small towns.
The maximum guaranteed loan amount that can be offered to any one borrower under this program is $25 million.
For information contact the Rural Development Office in your state or go to the website.
Tonza Borden is a 20-year finance and digital marketing expert with a passion for coaching and training. Visit her website at RuralMoney.com for exclusive rural resources and strategies for your financial future. Google+