The USDA Business & Industry (B&I) loan program is intended to develop the economies of rural areas through loans to support business and industry.
Eligible entities are cooperatives, corporations, partnerships, for-profit and non-profit businesses, Federally recognized tribes, public bodies and individuals. One of the above entities must engage in the following:
- Provide employment
- Improve the economic or environmental climate
- Promote conservation, development and use of water for aquaculture, or;
- Reduce reliance on nonrenewable energy resources by encouraging the development and construction of renewable energy systems
The USDA B&I program has a wide variety of uses:
- Business and industrial acquisitions when the loan will prevent business closure, prevent employment loss or provide expanded job opportunities
- Business conversion, enlargement, repair, modernization or development
- Purchase and develop land, easements, rights of way, buildings or facilities
- Purchase equipment, leasehold improvements, machinery, supplies and/or inventory
USDA B&I Loan Limits
Alaska Growth Capital originates USDA B&I loans in the $100,000-$10,000,000 range.