USDA Loans to Strengthen Your Rural Community
The U.S. Department of Agriculture (USDA) offers loan programs to help regulate the demand for businesses and properties in rural areas. USDA business loans are a cornerstone of the financial foundations of rural economies, as this funding helps create jobs, strengthen your community, and improve your local economy. Bank Michigan uses our lending options to utilize the Rural Development (RD) program for all your business necessities. A USDA loan is perfect for purchasing real estate, debt refinancing, business acquisitions, and updating your equipment.
Bank Michigan works with the USDA to provide help in rural communities so they may reach beyond their financial potential. The collaboration of public and private entities is what makes the RD program so important in providing impactful change where it is needed.
What Can a USDA Loan with Us Do for You?
We provide USDA business loans to take care of rural communities in southeast Michigan. These loans are useful to make a strong start as an entrepreneur if you live in an eligible area. Rural does not always mean farmland, rolling hills, and miles in between neighbors. For your business location to qualify for a USDA loan, it would have to be outside the limits of a large city. USDA loans are flexible funding options because they have a low fixed interest rate, work with your credit, and you can borrow up to the appraised value of your desired purchase.
Check here to see if your property is in an eligible area: eligible addresses for USDA programs
A USDA loan can be useful in a variety of ways, such as:
- You can purchase a business you’ve always dreamed of owning.
- You can help increase job creation and be a source of employment where your community may be lacking.
- You can add to your business in the form of updated real estate and equipment.
- You may be eligible for longer commitment terms and amortizations (up to 40 years).
Find a loan that works for you. Our USDA Business Loans can help your community strengthen its economy. Are you curious to learn more?
Contact us online or our commercial lending team can walk you through the process at your nearest branch. Come on in and meet our team. We’ll show you Better. Thinking. Banking.