USDA Rural Development’s Business and Industry Loans
Capitol National Bank also offers USDA Rural Development’s Business and Industry loans.
The USDA Business and Industry Loans may be used for:
- Construction of new facilities
- Purchase of land and building
- Purchase of machinery, equipment, fixtures
- Leasehold improvements
- Working capital
- Business Acquisition
USDA eligibility criteria:
- Rural cities of up to 50,000 population
- 20% Tangible Net Worth for new businesses, and 10% for existing
- Borrower must have adequate collateral coverage
Benefits of the USDA program for the borrower:
- Generally longer terms
- Can be used for startups
- Smaller equity injection possible
- Allows financing for rural communities
For more information email us or call 517.484.5080
