USDA B&I Loan for business acquisitions

November 11, 2023
by a lender from University of Massachusetts at Amherst in Atlanta, GA, USA
One of the purposes of USDA B&I loans is for business acquisitions. Anyone had experience using it?
November 11, 2023
by a lender from University of Massachusetts at Amherst in Atlanta, GA, USA
One of the purposes of USDA B&I loans is for business acquisitions. Anyone had experience using it?
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
I have seen transactions with a lot of equipment and / or real estate where the Bank uses the USDA program for a large portion of the debt and then uses the SBA 7A loan program for the unsecured goodwill / business interest. This is an option.
One thing to keep in mind with the USDA loan program. It is separately implemented in the State in which the product is by the USDA in that state. There is no PLP status like there is for SBA loans where the loan is automatically approved by the SBA once the Bank approves it. The USDA has a separate approval process on top of the Bank approval and it can take quite a bit of time, and the time involved can vary from state to state. I usually tell people to expect 4 to 6 months to get a deal closed USDA.
If you have additional questions you can reach me here or directly at redacted Good luck.
from Texas A&M University in Houston, TX, USA