USDA Business & Industry (B&I) Loans

First Colorado is an experienced USDA Business & Industry (B&I) lender with a history dating back to the 1990s. The USDA B&I Loan program provides loan opportunities to new or existing businesses in communities of 50,000 people or less. Our experienced team has in-depth knowledge of the USDA loan program and can efficiently navigate you through the process.

Summary
  • Government-assisted financing for several for-profit business, including:
    • Manufacturing
    • Hotel
    • Medical facility
    • Assisted living
    • Renewable energy
    • And more
  • Competitive rates for a variety of business needs
    • Business and industrial projects
    • Acquisitions
    • Refinancing
    • Construction
    • Modernization
    • Expansion
    • Purchase of equipment, machinery, and supplies
  • Fixed and floating rate options available, call for quotes
  • Loan amounts range from $1 million to $20 million or more
  • Flexible terms to fit your budget
    • Real estate up to 30 years
    • Machinery & equipment's useful life or 15 years, whichever is less
    • Working capital not to exceed 7 years
  • Loans must be fully amortized; balloon payments are not permitted
  • Reduced payments may be scheduled in the first three years
  • Equity injection
    • A minimum of 10% tangible balance sheet equity (20% for new businesses)
Eligibility Requirements

Any legal entity, including individuals and public and private organizations, located in a rural community as defined by the USDA Mapping Program are eligible for participation in the USDA Business & Industry (B&I) Loan program.

Approved Uses of Funds

Your business can take advantage of this exclusive financing program in the following ways:

  • Business conversion, enlargement, repair, modernization, or development
  • Purchase and development of land, easements, rights-of-way, buildings, or facilities
  • Purchase of equipment, leasehold improvements, machinery, supplies, or inventory
  • Debt refinancing when new jobs will be created and other conditions are met
  • Business and industrial acquisitions when the loan will keep the business from closing and/or save or create jobs
Back to top