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Rural community depicting typical economic landscape of usda business and industry loan program applicants

USDA Business & Industry Guaranteed Loan Program

Improving the economic landscape in your community

Backed by the U.S. government to promote economic growth in rural America, USDA Business and Industry loans (B&I) provide creditworthy businesses access to capital. With a USDA (B&I) loan from Live Oak Bank, rural business owners like you can get a business loan while improving the economic landscape in your community. Our team of in-house USDA experts will guide you through the lending process, ensuring you have the financing needed to achieve your goals.

Live Oak’s team of rural development experts is committed to fueling economic growth across our country. With higher loan amounts, flexible terms and a wide range of use of funds, a USDA B&I loan can take your business to the next level. Our deep knowledge of the various USDA loan programs and a commitment to exceptional customer service will streamline the process, getting money in your hands — and your community — faster.

B&I Loan Program Overview

Loan Amount

Up to $25,000,000

Term / Amortization

Up to 30 years

Pricing

Floating, fixed rate, adjustable or fixed for term

Prepayment

3 to 10 years, based on length of fixed rate and borrower requirements

Borrower Type

For-profit businesses, cooperatives, individuals, tribal entities, and non-profit entities

Eligible Markets

Rural markets with a population less than 50,000

A male small business owner cutting sheet metal that used the usda b&i loan program
A male and female window shopping at a local small business that used usda b&i loans to expand

Eligible Loan Purposes

  • Commercial real estate and business acquisitions when the loan will keep the business from closing, prevent the loss of employment, or provide expanded job opportunities
  • Refinancing to improve cash flow and create new or save jobs
  • Purchase of land, machinery, and equipment
  • Construction, enlargement, expansion or modernization
  • Pollution control equipment, startup costs or working capital

Personalized Service You Deserve

We’ll meet you where you are, whether that’s creatively structuring a small business loan or helping you maximize your money with a high-yield savings account. No need to jump through hoops for our attention — get the service you deserve from Live Oak Bank.

USDA LOAN PROCESS

The journey to obtain a USDA loan involves multiple steps. In our process overview, we explain how you get approved and when you will receive your money.

USDA LOAN CHECKLIST

With Live Oak, you get a partner who believes in your success and is willing to take the journey alongside you. View our checklist of the critical documents needed for USDA lending.

Our Team Understands Your Business

  • Rick Kollhoff
    VP - Rural Lending

    Email Rick | 910.685.8696

Male using his phone to search for personal banking products

From our resource center

As part of our commitment to supporting small business owners, we have a library of free educational resources available to anyone. Here’s what you can expect to find in Live Oak Bank’s Resource Center:

  • Loan product overviews
  • Marketing tips and tricks
  • Small business fundamentals
  • Live Oak customer spotlights