USDA COMMUNITY FACILITIES LOAN

The Community Facilities Loan Program offers direct loans, loan guarantees and grants to develop or improve essential public services and facilities in communities across rural America.

Essential Community Facilities

  • Business and Real Estate acquisitions, construction, conversion, expansion, repair, modernization or development.
  • Purchase of equipment, machinery, or inventory.
  • Start-up costs and working capital.
  • Refinancing for viable projects.
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Eligible Applicants

  • Public Bodies, Non-Profits and Federally-recognized tribes
  • Communities with less than 20,000 residents

Eligible Purposes

Acquire existing real estate

Associated project expenses (i.e. legal fees, interest expense)

Construct, expand, renovate or improve facilities

Purchase vehicles and major equipment

Refinancing when less than 50% of the total project cost

ADDITIONAL REQUIREMENTS

  • Applicants must have legal authority to borrow money, obtain security, repay loans, construct, operate and maintain the proposed facilities
  • Applicants must be unable to finance the project from their own resources and/or through commercial credit at reasonable rates and terms
  • Tax exempt financing is not eligible for this program
  • Lender responsible for determining credit quality and economic feasibility of proposed loan; adequacy of equity, cash flow, security, history and management capabilities
  • Project must demonstrate substantial community support
  • Environmental review must be completed/acceptable

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