Eligible Areas
Projects financed under the B&I program must be located in the United States or its possessions/territories
and must be in a rural area (defined as having a population of less than 50,000).

Eligible Borrowers
  Any legal entity including individuals, public and private organizations and federally recognized Indian
      tribal groups
  There is no size restriction on the business

Use of Proceeds
  B&I Loans may involve acquisitions, construction, conversion, repair, modernization or debt refinance.
  Loan proceeds can be used for real estate acquisition and/or improvements, machinery, equipment,
      furniture, fixtures and working capital. Closing costs and guarantee fees are also eligible.

Borrower Equity Requirements
  For existing businesses: a minimum of 10% tangible balance sheet equity is required at the time of
      issuance of the Loan Note Guarantee
  For start-up businesses: a minimum of 20% tangible balance sheet equity is required at the time of
      issuance of the Loan Note Guarantee
  Equity is determined in accordance with Generally Accepted Accounting Principles (GAAP)

Terms
  All B&I loans are fully amortized with no balloons or call dates.
  Maximum repayment terms are up to 30 years for real estate and improvements, up to 15 years (or
      useful life) for machinery, equipment, furniture and fixtures and up to 7 years for working capital.
  Rates are based on a spread over the Prime Lending Rate. Rates vary depending on the specific
      strengths of the transaction.
  A one-time Guarantee Fee of 2% of the guaranteed principal amount is due to USDA at loan closing.
      Other customary fees also apply.

Pre-Screen
  Pre-screen service available within 24 hours with no charge or obligation by providing
      limited information.