Stearns Bank is a nationwide USDA Business & Industry (B&I) lender with a history dating back to the 1980s. We have an in-depth knowledge of the USDA loan program and pride ourselves on delivering quality efficient service across the country to a variety of industries. USDA loans are a high priority for us and we are committed to promoting economic opportunities in rural communities by providing financing to businesses within these communities.
The USDA B&I Loan program provides an opportunity for stability, growth, expansion & rural employment to new or existing businesses in communities of 50,000 people or less.
|Loan Amounts||$1 million to $20 million or more|
|Loan Uses||Business & industrial projects, acquisitions, refinancing, construction, modernization, expansion, and the purchase of equipment, machinery & supplies|
|Loan Terms||Longer repayment terms up to 30 years|
|Equity Injection||A minimum of 10% tangible balance sheet equity (20% for new businesses)|
|Eligibility||Any legal entity including individuals, public, and private organizations located in a rural community s defined by the USDA Mapping Program - check eligibility now (USDA.gov website)|
In working with our experience lending team, we walk you through the entire USDA loan process. Call 1-800-320-7262 or inquire now. We get the job done!