USDA B&I Loans in Saginaw, MI

USDA B&I Loans in Saginaw, MI

From Cathedral Square to the Woods, Saginaw, MI is poised for economic growth spanning all industries. Rushview Commercial Funding provides USDA Business and Industry (B&I) loans tailored to the needs of:

  • 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 from Rushview Commercial Funding are designed to preserve businesses and jobs, and to help emerging entrepreneurs and job creators flourish throughout Saginaw, MI. We work with individuals, organizations, and businesses directly to understand their needs so we can structure USDA loans to help them reach their goals. Saginaw, MI has a long history of businesses spanning all industries ranging from lumber to manufacturing. In the 21st Century, market demands have shifted, but business owners in Saginaw need adequate, affordable, and accessible financing to keep things moving. Our USDA B&I loans help entrepreneurs to stay competitive and help boost the local economy. Rushview Commercial Funding provides USDA loans that 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

USDA B&I Loan Terms for Borrowers in Saginaw, MI

USDA B&I loans from Rushview Commercial Funding offer generous terms for borrowers in Saginaw, MI, such as:

  • 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

Underwriting Requirements for USDA Loans in Saginaw, MI

Applicants for USDA Business and Industry loans from Rushview Commercial Funding must meet the following requirements to qualify for approval:

  • 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

Considerations and Fees for USDA B&I Loans

Applicants in Saginaw, MI must be aware of the following fees for USDA B&I loans from Rushview Commercial Funding:

  • 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.

Get Started Today

If you want to grow your business and preserve or create jobs in the Saginaw area, contact the experts at Rushview Commercial Funding today and ask about our USDA Business and Industry loans.

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