Business & Industry Loans

How To Apply For a USDA B&I Loan

How to Apply for B and I LoansUSDA Business & Industry Guaranteed Loan Program – How to Apply

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

Eligibility Requirements:

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

Application Process and Timeline:

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 detailed information on obtaining A B & I Loan open the link below

Obtaining a B and I Loan.pdf

CREFS
8655 E. Via De Ventura, Suite G-200
Scottsdale, AZ 85258
Phone: (602) 885-1080