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USDA Rural Development has Financing Available for Rural Kansas Businesses

USDA Rural DevelopmentUSDA Rural Development currently has funds available for the Business and Industry (B&I) Guaranteed Loan Program.

The B&I Program finances business expansions or development of new businesses in rural areas or cities less than 50,000 population.

The Agency provides a guarantee for quality loans and because of this guarantee, lenders can offer businesses more flexible terms enabling expansions and profitability.

Since 2009, USDA Rural Development in Kansas has provided $63 million in loan guarantees to rural businesses.

B&I funds may be used for:

  • Financing business and industrial construction, conversion, acquisition or modernization;
  • Purchase and development of land, equipment, facilities, machinery, supplies or materials; or
  • Debt refinancing.

USDA Rural Development's B&I Loan Guarantees:

  • 80 percent loan guarantee for loans of $5 million or less
  • 70 percent for loans between $5 million and $10 million

Guaranteed loans have a 3 percent guarantee fee at closing and a .5 percent annual renewal fee.

For more information on USDA's Business & Industry Guaranteed Loan Program and other USDA Business Programs, contact a USDA Rural Development Business Program Specialist in Kansas.

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