The USDA Rural Development program offers loans, grants and loan guarantees to support economic development and essential services such as housing, health care, first responder services and equipment and water, electric and communications infrastructure.
USDA promotes economic development by supporting loans to businesses through banks, credit unions and community-managed lending pools. They offer technical assistance and information to help agricultural producers and cooperatives get started and improve the effectiveness of their operations.
What are the Benefits of a USDA Loan?
Borrowers can benefit by choosing to use USDA financing to cover cost that are not normally covered in traditional loans. Such as purchase of start-up costs, working capital and gap cost.
Who is eligible for the USDA Loan?
Small businesses that are located within rural areas of 50,000 population or less that are within the following counties: Anderson, Camp, Cherokee, Gregg, Harrison, Henderson, Marion, Panola, Rains, Rusk, Smith, Upshur, Van Zandt and Wood.
How much can my business borrow?
The East Texas Regional Development Company can lend up to $150,000 or 75% of the total cost of the project, whichever is lower.