Federal
Small Business Administration -
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SBA Basic 7(a) Loan Program PDF
7(a) loans are the most basic and most
used type of loan in the Small Business Administration’s
(SBA’s) business loan programs. All 7(a) loans are provided
by lenders who are called participants because they participate
with SBA in the 7(a) program.
7(a) loans are only available on a guaranty basis. This means they are provided
by lenders who choose to structure their own loans by SBA's requirements
and who apply and receive a guaranty from SBA on a portion of this loan.
The SBA does not fully guarantee 7(a) loans. The lender and SBA share the
risk that a borrower will not be able to repay the loan in full. The guaranty
is a guarantee against payment default.
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SBA (504) Loan Program PDF
The 504 Program provides growing
businesses with long-term, fixed-rate financing for major fixed
assets, such as land and buildings. Typically, a 504 project
includes a loan secured with a senior lien from a private-sector
lender covering up to 50 percent of the project cost, a loan
secured with a junior lien from a local or regional community
development corporation (backed by a 100 percent SBA-guaranteed
debenture) covering up to 40 percent of the cost and a contribution
of at least 10 percent equity from the small business being helped.
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SBA Micro-Loans PDF
The Micro-Loan Program provides very small
loans to start-up, newly established or growing small business
concerns. Under this program, the Small Business Administration
(SBA) makes funds available to nonprofit community based lenders
(intermediaries) which in turn make loans to eligible borrowers
in amounts up to a maximum of $35,000. The average loan size
is about $10,500. Applications are submitted to the local intermediary,
and all credit decisions are made on the local level.
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These are merely brief descriptions of the programs
and are not intended to fully disclose all the requirements and
criteria for these programs. More information regarding these
programs and other SBA services can be found at http://www.sba.gov/.
U.S. Department of Agriculture -
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USDA Business and Industry Guaranteed
Loans PDF
The U.S. Department
of Agriculture’s Business and Industry (B&I) Guaranteed
Loan Program helps create jobs and stimulates rural economies
by providing financial backing for rural businesses. This program
provides guarantees up to 80 percent of a loan made by a commercial
lender. Loan proceeds may be used for working capital, machinery
and equipment, buildings and real estate and certain types of
debt refinancing. The primary purpose is to create and maintain
employment and improve the economic climate in rural communities.
This is achieved by expanding the lending capability of private
lenders in rural areas, helping them make and service quality
loans that provide lasting community benefits. This program represents
a true private-public partnership.
The program is administered at the State level
by Rural Development State Offices.
For more information regarding this or other
USDA programs contact:
Gerald A. Townsend, USDA Business and Community Program Director, at (217)
403-6209.
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USDA Revolving Loan Funds and
Technical Assistance PDF
Intermediary Relending Program Loans
Rural Business Enterprise Grant Program
Rural Business Opportunity Grant Program
Rural Economic Development Loan and Grant Program
Rural Business Investment Program
Renewable Energy and Energy Efficiency Improvement Grants
For More Information
Detail information and applications for financial assistance
are available through State and local offices of USDA Rural
Development. Some of the authorized programs described above
require the implementation of regulations before they are available
for funding projects. Consult your USDA Rural Development State
Office for information on fund availability.
For more information on USDA Rural Development
Business Programs, you may also call the Rural Development National
Office at (202) 720-0813 or connect to the Rural Development
Web site: http://www.rurdev.usda.gov.
SOURCE: USDA Rural Development Rural Business-Cooperative
Programs brochure
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