A Quick Pre-Screen for USDA B & I Loan Prospects
- Is it a viable commercial loan project?
- Is the project located in a rural area?
- Can SBA 7(A) guaranteed program handle the loan instead?
- Is the business eligible for the B & I program?
- Will jobs be created or made more secure?
- Business is majority-owned by us citizens or permanent residents
- No 20%+ owners are us government/military employees
- Project does not involve relocation of more than 50 employees
- If lender is refinancing their own debt, this purpose is less than half of the loan.
Adequate collateral test : (using current appraisal values).
Tangible balance sheet equity test :
- (using depreciated cost basis values)
- (10% minimum for existing businesses; 20% minimum for new businesses)
- Environmental controversy (avoid floodplains & prime farmland)
- Independent feasibility study (for start-ups, new locations, & businesses with recent losses)
CREFS can help you with a business and industry loan. Contact us today!!
8655 E. Via De Ventura Suite, G-200
Scottsdale, AZ 85258
Phone: (602) 885-108