USDA B&I Loans in Dade City, FL

USDA B&I Loans in Dade City, FL

USDA Business and Industry (B&I) loans help to preserve and create jobs in Dade City, FL in the following sectors:

  • Cooperatives
  • Entertainment Venues
  • Federally-Recognized Tribes
  • For-Profit Businesses
  • Manufacturing
  • Nonprofits
  • Public Bodies
  • Raw Materials Processing
  • Retail
  • Rural Production
  • Special Event/Wedding Venues
  • Wholesale
  • Wineries

At Rushview Commercial Funding, we offer USDA B&I loans tailored specifically to the needs of emerging and existing entrepreneurs in Dade City, FL to help grow the local economy, create jobs, and keep businesses on the path to long-term success. USDA B&I loans from Rushview Commercial Funding provide borrowers in Dade City, FL with higher financing amounts, more competitive rates, and very generous terms compared to traditional loans structures. Our USDA B&I loans feature:

  • Loan amounts up to $25 million
  • LTV up to 80% on loans less than $5 million
  • LTV up to 70% on loans from $5 million up to $10 million
  • LTV up to 60% on loans greater than $10 million
  • Up to 80% FMV for real estate
  • Up to 70% FMV for equipment and machinery
  • Up to 60% of book value for raw inventory and finished goods
  • Up to 60% of book value for receivables

Terms for USDA B&I Loans in Dade City, FL

Rushview Commercial Funding offers generous terms on USDA Business and Industry loans, including:

  • Up to 30 years for real estate
  • Up to 15 years or the full life-cycle of the equipment, whichever is less
  • Up to 7 years for working capital
  • Full amortizations
  • No balloon payments
  • Interest-only payments for the first 3 years

Requirements for USDA B&I Loans in Dade City, FL

To qualify for USDA Business and Industry loans from Rushview Commercial Funding, borrowers in Dade City, FL must meet the following requirements:

  • The ability to repay the loan
  • Principals must demonstrate good credit history
  • New businesses will be required to provide a feasibility study from a recognized independent source
  • New businesses must hold a balance sheet equity position of at least 20% at the time of closing
  • Existing businesses must hold a balance sheet equity position of at least 10% at the time of closing
  • Corporate and personal guarantees are required from all principals with interest of 20% or greater, with the exception of limited partners

Applicable Fees for USDA B&I Loans

Businesses, entrepreneurs, and organizations in Dade City, FL should be aware of the following fees on USDA loans:

  • An initial fee when the loan guarantee is issued.
  • There will be an annual renewal fee on the outstanding balance of the guaranteed portion of the loan that is determined by Rural Development. The determined rate is published in the Federal Register every year.
  • All customary fees are negotiated between the borrower and lender.

Contact Us Today

To learn more about USDA B&I loans and how they can help you reach your goals in Dade City, contact the team at Rushview Commercial Funding today.

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