USDA B&I Loans in Gallatin, TN

USDA B&I Loans in Gallatin, TN

Gallatin, TN is home to a wide range of businesses and industries, including retail, manufacturing, raw materials and refinery, and downtown entertainment. At Rushview Commercial Funding, we provide USDA Business and Industry (B&I) loans aimed at preserving and growing existing businesses, creating jobs, and helping emerging entrepreneurs and organizations to get their operations off the ground. Our USDA B&I loans are tailored to markets and industries in Gallatin, TN and can be used by:

  • 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

USDA B&I loans are not solely reserved for agricultural operations. The truth is they are available to businesses spanning a variety of industries in areas that want to preserve and create jobs while also growing the local economy. Rushview Commercial Funding is aligned with the entrepreneurial goals of individuals, businesses, and organizations in Gallatin area, which is why we work directly with applicants to provide USDA B&I to help them reach their goals. USDA loans from Rushview Commercial Funding offer:

  • 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

USDA Business and Industry Loan Terms for Applicants in Gallatin, TN

USDA Business and Industry loans from Rushview Commercial Funding come with generous terms for applicants in Gallatin, TN. Our terms include:

  • 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

Qualifying for USDA B&I Loans in Gallatin, TN

To qualify for USDA B&I loans from Rushview Commercial Funding, applicants in Gallatin, TN 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

USDA Business and Industry Loan Fees

Individuals, businesses, and organizations in Gallatin, TN applying for USDA B&I loans should be aware of the following fees:

  • 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 Business and Industry loans, contact the team at Rushview Commercial Funding today.

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