USDA Guaranteed Loans*
USDA loans offer greater flexibility and affordability.
Loan Benefits:
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Longer term debt with no balloon payments
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Construction to permanent loans available
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Start up or projection-based deals are allowed
About USDA ONERD Guaranteed loans.
The United States Department of Agriculture (USDA) is a federal agency responsible for promoting agricultural production, protecting natural resources, and ensuring that all Americans have access to safe and nutritious food. The USDA also supports businesses, public bodies, and Federally recognized tribes in rural and under served areas by giving them access to the capital they need to grow and expand their operations and infrastructure.
Ameris Bank has dedicated, knowledgeable loan officers who structure and deliver custom-tailored USDA OneRD guaranteed loans. They are fully versed in USDA lending and help you understand the various loan and financing options as well as their benefits so you can decide what's best for your business or organization. Plus, we have a dedicated Customer Relationship Manager at the National USDA office, allowing us to process your loan application faster.
97% of the US land area falls in a USDA eligible area.1
Find the right program for you.
Whether you're launching a startup, have an existing business and need working capital or purchasing a building, B&I loan could work for you.
Why choose a B&I Loan
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Longer term debt with no balloon payments
-
Construction to permanent loans available
-
Start up or projection-based deals are allowed
Loan Amounts
- Up to $25 million
Maximum Repayment Terms
- 7 years for working capital
- 15 years for machinery and capital equipment
- 30 years for real estate acquisition
Rate Information
- Variable and fixed interest rates are available, or a combination of fixed and variable
- Variable rates cannot be adjusted more frequently than quarterly
Eligible Uses
- Business acquisitions, construction, conversion, expansion, repair, modernization, and development
- Purchase of equipment, machinery, and supplies
- Business startup costs and working capital
- Projects supported by New Markets Tax Credits
- Debt refinancing under certain conditions
- Acquisition or construction of real estate
Collateral requirements
- All loan products require collateral
- Hazard insurance is required on collateral (equal to the loan amount or depreciated value, whichever is less)
Eligible Applicants
- Located in a rural area
- For profit or non-profit businesses
Terms
- Loan amounts up to $25 million
- Loan term up to 30 years
- Loans up to 75% of costs
Eligible uses of proceeds
- Development and installation of a renewable energy system.
- This includes solar, renewable natural gas, biomass, and other renewable energy systems.
- Funds can also be used for the purchase and installation of energy efficiency equipment and improvements for an existing business or property. This may include improvements in HVAC efficiency, insulation, and lighting.
Benefits
- Longer term debt with no balloon payments
- Can underwrite merchant offtake, or post-PPA transactions
- Equity can include investment tax credit (ITC) funds
- Can include construction to permanent funding
Eligible Applicants
- Public bodies
- Non-profit organizations
- Federally recognized tribes
Terms
- Loan amounts up to $50 million
- Loan term up to 40 years
- Loans up to 100% of costs
- Can be structured as bonds or loans
Eligible uses of proceeds
- Construct or improve facilities for:
- Drinking water
- Sanitary sewers
- Solid Waste Disposal
- Storm Water Disposal
- Examples Include:
- Installation of new water meters
- Construction of water towers and storage
- Installation of water and sewer lines
Benefits
- Longer term debt with no balloon payments
- Faster closing timeline than many public financing options
- Can be structured with equal collateral position as current and future bond financing
Eligible Applicants
- Public bodies
- Non-profit organizations
- Federally recognized tribes
Terms
- Loan amounts up to $100 million
- Loan term up to 40 years
- Loans up to 100% of costs
- Can be structured as bonds or loans
Eligible uses
- Construct or improve an essential community facility including:
- Hospitals and health care facilities
- Fire, rescue, and public safety
- Community, public, education, or cultural facilities
- Transportation facilities such as streets, bridges, and roads
- Rural utility projects
- Telecommunications end-user equipment
- The purchase and installation of renewable energy systems for use by the community facility
- Water infrastructure
- Community parks and activity centers that are integral to the orderly development of the community
- All facilities must be for public use
Benefits
- Longer term debt with no balloon payments
- Faster closing timeline than many public financing options
- Can be structured with equal collateral position as current and future bond financing
How the process works, from application to funding.
Applying for a USDA loan is an involved process that requires quite a bit of paperwork. Your Ameris Bank business development manager will explain what is needed to complete your application and be available if you need assistance. In addition, Ameris Bank, working closely with you and the USDA, will underwrite the loan and keep you updated on the loan's status.
If your USDA loan application is approved and you make the decision to move forward, we will ensure all the necessary documentation is finalized, and your funds will be disbursed. You will then make loan payments based on the schedule outlined in your USDA loan agreement. Your payment will depend on the loan type, length, and interest rate applicable when the application is approved and the necessary documentation is complete.
* All loans subject to credit approval.
1 National Agricultural Library Rural Information Center: https://www.nal.usda.gov/programs/ric.
Ameris Bank is a full-service financial institution serving customers in the Southeast and Mid-Atlantic, with locations in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee and Virginia.