U S D A      B u s i n e s s     &     I n d u s t r y

G u a r a n t e e d   L o a n   P r o g r a m

-H o w   T o   A p p l y-

First check to see if you (and your business) meet the general eligibility requirements of both the USDA and Commerical Real Estate Financing Specialists.

EligibilityRequirements

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=rbs

1.    Lender and business submit a joint pre-application.

2.    The USDA meets with both parties at the project site and makes a preliminary determination of project acceptability.                                                

        --Normally within 15 days--

3.    Lender and business complete the application.                                                       

         -- From the completed application, approval takes less than 60 days --

4.    USDA issues a conditional commitment, approving the guarantee subject to conditions.

         -- Loans up to $ 5 million are approved locally, larger ones are approved in Washington D.C. --

5.    The lender closes the loan, and requests the guarantee.

6.    USDA issues the guarantee after verifying that all conditions have been met.

For more detailted information on obtaining A B & I Loan open the link below

 

-Obtaining a B and I Loan.pdf