CertusBank USDA B&I Loan Program

50 %
50 %
Information about CertusBank USDA B&I Loan Program
Finance

Published on February 28, 2014

Author: JenniShover

Source: slideshare.net

Description

USDA B&I Loans

USDA B&I LOANS • Projects financed under the B&I program must be located in the United States or its possessions/territories and must be in a rural area (defined as having a population of less than 50,000) • Any legal entity including individuals, public and private organizations and federally recognized Indian tribal groups • There is no size restriction on the business • B&I Loans may involve acquisitions, construction, conversion, repair, modernization or debt refinance • Loan proceeds can be used for real estate acquisition and/or improvements, machinery, equipment, furniture, fixtures and working capital. Closing costs and guarantee fees are also eligible • For existing businesses: a minimum of 10% tangible balance sheet equity is required at the time of issuance of the Loan Note Guarantee • For start-up businesses: a minimum of 20% tangible balance sheet equity is required at the time of issuance of the Loan Note Guarantee • Equity is determined in accordance with Generally Accepted Accounting Principles (GAAP) • All B&I loans are fully amortized with no balloons or call dates • Maximum repayment terms are up to 30 years for real estate and improvements, up to 15 years (or useful life) for machinery, equipment, furniture and fixtures and up to 7 years for working capital • Rates are based on a spread over the Prime Lending Rate. Rates vary depending on the specific strengths of the transaction. • A one-time Guarantee Fee of 3% of the guaranteed principal amount is due to USDA at loan closing. Other customary fees also apply • Pre-screen service available within 24 hours with no charge or obligation by providing limited information For more information, or to make a referral, please contact: 877.893.7823 CertusBank.com/SBA CertusBank, N.A. Member FDIC. Equal Housing Lender. © 2013 CertusHoldings, Inc. All rights reserved. CertusBank, N.A. is a trademark of CertusHoldings, Inc. For further information on our Company, please visit our website at CertusBank.com. For Investor information, visit the CertusHoldings, Inc. website at CertusHoldingsinc.com. CertusBank.com

Add a comment

Related presentations

Les changements sur le marché du distressed aux Etats-Unis et en Europe

Main Sections of the Report 1) Nifty Technical View 2) 4 Large Cap Trade Ide...

This presentation consits the yearly results of Kinepolis Group

Related pages

Business and Industry Guaranteed Loan Program (B&I)

... Business and Industry Guaranteed Loan Program ... and Industry Guaranteed Loan Program (B&I) ... any USDA Rural Development program contact ...
Read more

Business & Industry Loan Guarantees | USDA Rural Development

Why does USDA Rural Development do this? This program improves the economic health of rural communities by increasing ... Servicing B&I Guaranteed Loans ...
Read more

USDA B&I Loans - Celtic Bank - What Can Celtic Bank Do For ...

USDA B&I Loans; SBA 504 Loans; Conventional Equipment ... Approved to offer SBA loan products under SBA’s Preferred Lender Program. Celtic Bank NMLS ...
Read more

USDA B&I Guaranteed Loans | AVANA Capital

USDA B&I Guaranteed Loans for Commercial Real Estate Development. The USDA Business and Industry (B&I) Guaranteed Loan Program is meant to improve, ...
Read more

FREQUENTLY ASKED QUESTIONS What is the B&I program? How ...

FREQUENTLY ASKED QUESTIONS What is the B&I ... The B&I Guaranteed Loan Program ... but specifically geared to USDA (including B&I) guaranteed loans.
Read more

JUNE 2012 CommUNity AffAirs DEpArtmENt Insights

JUNE 2012 CommUNity AffAirs DEpArtmENt . Insights. USDA’s Business and Industry ... USDA’s B&I Guaranteed Loan Program is designed to help ...
Read more

USDA Rural Development Business and Industry Guaranteed Loans

USDA Rural Development Business and Industry . ... Industry (B&I) Guaranteed Loan Program guarantees loans made by eligible lenders to rural businesses.
Read more

Community West Bank | USDA B&I Loan Program

USDA B&I Loan Program. Complimenting our SBA loan offerings, ... Some highlights of the B & I Loan Program include: Loan amounts up to $5,000,000 ;
Read more

USDA Eligibility

This site is used to determine eligibility for certain USDA home loan programs and the ... if you meet the eligibility requirements of this program.
Read more

USDA Blog » B & I Loan

... the event featured USDA Business and Cooperative Programs (B&I) ... Tags: ARRA, B & I Loan, Business and Cooperative Programs, Jobs forum, ...
Read more