Small Business Administration (SBA) loans are available in a variety of term loan and line of credit options by means of the SBA 7a, 504, and SBA Express loan programs. These loans are government guaranteed and provided by the bank. The intent of these programs is to offer businesses access to credit that they need to grow that may not otherwise be accessible to them through a conventional loan.
United States Department of Agriculture (USDA) loans are available to borrowers in the form of term loans. The Bank works with the Rural Development Group of the USDA to provide a loan through their Business and Industry Guaranteed Loan Program. The primary purpose of these loans is to develop and finance businesses that improve the economic and environmental climate in rural communities. Often these loans will be used for equipment purchases, building purchases, or expansion needs as well.
For more information on Government Guaranteed Loans contact a commercial banker near you.