In Florida, through two of the USDA’s most prominent programs, (USDA Business and Industrial Guaranteed Loan Program and the USDA Community Facilities Program), Florida Capital Bank (FLCBank) can offer financing solutions for businesses or municipalities located in rural areas.
The USDA B&I (Business and Industrial) Guaranteed Loan Program is predominantly available to any legal entity including individuals, public and private (for-profit and nonprofit) organizations and businesses, public bodies, cooperatives, and federally recognized Indian tribal groups.
Individual borrowers must be U.S. citizens or live in the United States after receiving permanent residence status. Private-entity borrowers must demonstrate that loan funds will remain in the United States and the facility being financed will focus on creating new or save existing jobs for rural U.S. residents.
The USDA also offers financing options through their Community Facilities Programs for public services and facilities such as health care, education, public safety, and public services.
Under the program terms, certain geographic and demographic criteria must be met in order to qualify for USDA loans.
Eligibility areas for a USDA business loan include:
- Rural areas outside a city or town with fewer than 50,000 people.
- The borrower’s headquarters may be based within a larger city if the project is in an qualifying rural area.
- Projects may be funded in rural and urban areas under the Local and Regional Food System Initiative. Check out the eligible addresses for Business Programs.
To be eligible for these loans, the loans must be used toward:
- Business conversion, enlargement, repair, modernization or development.
- The purchase and development of land, easements, rights-of-way, buildings or facilities.
- The purchase of equipment, leasehold improvements, machinery, supplies or inventory.
- Debt refinancing to improve cash flow and create jobs.
- Business and industrial acquisitions to maintain business operations and create or save jobs.
Let our USDA loan specialists determine if these viable programs are right for your financing needs and if you are eligible.
Looking to Apply for a USDA Small Business Loan in Florida?
At FLCBank, we help business owners with the financing and growth of their business from the start. Our team of banking experts at FLCBank will help you find the right financing solution for your small business.
We have an extensive array of financing options to help you achieve your business goals and aspirations through two of the USDA’s most prominent programs, (USDA Business and Industrial Guaranteed Loan Program and the USDA Community Facilities Program.
FLCBank can help you secure the critical funds and can offer financing solutions for businesses or municipalities located in rural areas.
Check out the options and learn more about these loans on our USDA business loans page.
FLCBank is a leader in the banking industry focusing on solutions for the financial well-being of businesses and their owners. We are a nationally chartered bank headquartered in Jacksonville, Florida with full-service branches located in Jacksonville, Gainesville, Orlando, and Tampa Bay.
For more information, visit our small business loans page or call us at 8003183159 with any questions or to determine your USDA business loan eligibility.