The Rural Loan Program was created by SAFE-BIDCO in cooperation with the United States Department of Agriculture (USDA) Rural Development.
The USDA Rural Development has authorized SAFE-BIDCO to promote a low interest, fixed rate loan program to encourage new business growth and promote existing business expansion.
Borrower should have at least 25% equity injection.
There MUST be some financial participation by the new or existing business owner. This can be accomplished through equity contribution or other established collateral sources (note: collateral is required).
Existing business owners as well as those who desire to start up or acquire an existing enterprise in:
- Contra Costa
- Del Norte
- San Benito
- Business start up or acquisition
- Facility purchase
- Expansion or modernization
- Working capital
- Furniture & fixtures
- Equipment purchases and upgrades
- May be used in conjunction with other business
- Financing to meet lender requirements
- Rural Business (Residency is required)
- Fixed rates
- Loans up to $250,000
- Terms up to 7-years for working capital
- Terms up to 15-years for equipment purchase
- Terms up to 25-years for real estate
- Interest Rates
▪ Over $50,000 (Prime + 2.75%)
▪ %50,000 or less (Prime + 3.75%)
Terms and conditions subject to change