USDA Business & Industry (B&I) Loans Business Plan

Flexible Financing for Rural American Businesses

Looking to secure a USDA Business & Industry loan for your rural business? Mikel Consulting specializes in building detailed business plans that emphasize your business’s strengths and align with lender expectations. Whether you’re seeking funds for working capital, real estate, or equipment, we help you navigate the process to secure the funding you need to grow and thrive.

Mikel Consulting's Record of Success

  • 4,000+

    Business Plans

  • $0.9B+

    Bank Loans Secured

  • 97%

    Success Rate

  • 100+

    Trusted Partners

  • 90+

    Client Countries

What is the USDA Business & Industry Loan Program?

The USDA Business & Industry (B&I) Loan Program provides financing to rural businesses to improve, develop, or expand their operations. It supports the creation of jobs and boosts the economic well-being of rural areas by offering loan guarantees to lenders, making it easier for businesses to obtain financing.

What Are USDA B&I Business Loans?

USDA B&I loans are designed to help rural businesses obtain financing for a wide range of purposes, from purchasing real estate and equipment to refinancing debt and providing working capital. With a government-backed guarantee, these loans make it easier for rural businesses to access funding.

Who Are USDA B&I Business Loans For?

USDA B&I loans are available to businesses in rural areas that need funding to support business expansion, modernization, or improvements. Loans are open to businesses, cooperatives, nonprofits, and federally recognized tribes located in rural areas with populations of 50,000 or fewer.

Why Choose Mikel Consulting?

  • PROVEN EXPERTISE

    Experience: Prepared 4,000+ customized business plans since inception.

    Success Rate: 97% success rate for 3,000+ valued clients worldwide.

    Trustworthy Team: Dedicated professionals with 24 years of industry experience.

  • TIME SAVINGS

    Efficient Process: Prompt delivery of first drafts within 7-10 business days.

    Focus on Growth: Save weeks of work to concentrate 100% on growing your business.

    Industry Research: Powered by direct research and hundreds of top industry resources.

  • HIGHLY CUSTOMIZED

    Custom Solutions: 1-on-1 consultations to understand your business, industry, and goals.

    Reflect Your Vision: Create a custom-tailored business plan to best represent your vision.

    Maximize Success: Designed to attract funding, increase potential for success, and stand out from the competition.

USDA Impact

$1 billion+

Total B&I loan funds distributed annually.

80%

Loan guarantees for loans up to $5 million.

50,000+

Rural businesses supported by the USDA B&I program.

USDA Program Details

  • Loan Amounts

    • Maximum loan: Up to $25 million, with exceptions for certain projects.

    • Loan guarantees can cover up to 80% for loans up to $5 million, 70% for loans up to $10 million, and 60% for loans exceeding $10 million.

  • Usage of Funds

    • B&I loans can be used for a variety of purposes, including purchasing real estate, equipment, refinancing debt, and providing working capital.

  • Interest Rates

    • Interest rates are negotiated between the borrower and the lender but are typically competitive due to the government-backed guarantee.

  • Fees

    • An initial guarantee fee of 3% applies, with an annual renewal fee of 0.5% of the guaranteed portion of the outstanding balance.

  • Security

    • Collateral is required, typically in the form of real estate, equipment, or other business assets, and must be sufficient to cover the loan.

  • Loan Approval Process

    • Loans are provided through USDA-approved lenders, who submit the loan for USDA review and approval. The timeline varies depending on the lender and project complexity.

  • Eligibility

    • Eligible businesses include rural businesses, cooperatives, nonprofits, and federally recognized tribes located in rural areas. The business must also demonstrate the ability to repay the loan and provide sufficient collateral.

Bank Loan Business Plan Examples

Transforming Your Vision into Reality

Explore how our strategic business plans and expert guidance have propelled businesses to new heights.

Chic Nail Salon

Secured a $128,475 bank loan for operational launch.

Labs Diamond

Secured $10M loan for working capital to place inventory at retailers.

Sempre Uno

Secured a $1M bank loan for operations and enhancement.

Frequently Asked Questions

  • The USDA B&I Loan Program offers government-backed guarantees to help rural businesses access financing through private lenders. This reduces the lender’s risk, making it easier for rural businesses to get funding for a variety of uses, from real estate to working capital.

  • B&I loans can be used for purchasing real estate, equipment, inventory, or even refinancing debt. They are also available for working capital, business modernization, and developing new business ventures, particularly those that support rural development and job creation.

  • To qualify, your business must be located in a rural area, defined as a town with a population of 50,000 or fewer. Additionally, the business must demonstrate that it has the ability to repay the loan and provide sufficient collateral.

  • The loan application is processed through a USDA-approved lender. Once submitted, the USDA reviews the application and issues a loan guarantee, which helps reduce the lender's risk. The approval timeline can vary depending on the lender and project details.

  • Mikel Consulting provides tailored business plans that meet USDA lender requirements. Our plans focus on showcasing your business’s financial health, market potential, and ability to repay the loan, increasing your chances of approval.

  • Interest rates for USDA B&I loans are negotiated between the borrower and the lender. However, due to the government-backed guarantee, rates are often more competitive than traditional business loans.

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We have the expertise to unlock opportunities for your business growth, funding, and immigration success through our tailored business plans and strategic guidance.

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