USDA Commercial Loans

The UNITED STATES DEPARTMENT OF AGRICULTURE (USDA) RURAL DEVELOPMENT operates over fifty financial assistance programs for a variety of rural applications. USDA provides funding opportunities for rural small businesses through loans, loan guarantees and grants (grant financing is not available through Uwharrie Bank).

The USDA Rural Development program improves the economic health of rural communities by increasing access to business capital through loan guarantees that enable commercial lenders to provide more affordable financing for businesses in eligible rural areas. The fact that the USDA has Business & Industrial loan guarantee programs is not generally known because it is only available to rural areas.

The USDA offers loan guarantees to businesses in “rural” areas in an effort to create or save rural jobs and to stimulate rural economies. A “rural” area is generally defined for USDA B&I loans as all areas except cities over 50,000 in population. USDA financing requirements may change from time to time. Uwharrie Bank can assist you in determining current USDA eligibility requirements. Some of the benefits of a USDA Rural Development loan include:

No down payment Flexible credit requirements Competitive rates