USDA Business And Industry Loan Details
Loan Purpose: Commercial real estate acquisition, refinance & construction
Loan Amount: $1,000,000 - $25,000,000
Equity Requirement: 20% down or maximum 80% Loan to Value
Interest Rate: Competitive Loan Pricing
Terms: 20 to 30 years. No balloons as all loans are fully amortizing over the life of the loan.
Prepayment Penalty: Prepayment penalties will apply.
Collateral: First lien on real estate with LTV up to 80%
Personal guarantees: For all individuals owning 20% or more. Corporate guarantees of affiliated companies may be required.
Industries: All types of for-profit businesses, some non-profits as well as some investment real estate must meet USDA eligibility requirements based on properties location.
Timing: We can work at your pace of providing the necessary information. Term Sheets in 24/48 Hours. Loan approval in 5-10 days. Loan closings are generally 45-60 days from submission. However, loans are subject to USDA approval and funding allocation.