Unconventional loans: SBA and USDA loans
Bank Mutual offers two types of government guaranteed loans:
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 expansions.
Contact one of our loan experts to determine if your business qualifies for a government guaranteed loan. If so, we’ll walk you through the process and help you with the paperwork. If you have questions about a government guaranteed loan, you have a bank you can go to for answers.