AGRIBUSINESS DEVELOPMENT
The Agribusiness Development Team will guide you to the right financial resources for your business. Financing new or expanding agribusiness is available through both public and private sources. Some of these financial resources are as follows:
Business and Industrial (B&I) Guaranteed Loan Program;
- Program guarantees loans by commercial lenders to rural businesses.
- Maximum $25 million aggregate loan amount to any one borrower.
Business and Industrial Direct Loan (B&I Direct) Program;
- Loans made to individuals, partnerships, for-profit and non-profit businesses, cooperatives, Indian Tribes, and public bodies who are unable to obtain conventional credit at reasonable rates and terms.
- Loan guarantees must be considered prior to a direct loan.
- Borrower’s outstanding direct loan balance cannot exceed $10 million.
Direct Farm Ownership and Operating Loans;
- Loans made to intermediaries. Intermediaries re-lend funds to ultimate recipients for business facilities or community development.
- Loans from intermediaries to ultimate recipients must be for the establishment of new businesses, the expansion of existing businesses, creation of employment opportunities, saving of existing jobs, or community development projects.
Guaranteed Farm Ownership and Operating Loans; FSA guaranteed loan helps family farmers obtain commercial credit U.S. citizen unable to obtain credit elsewhere
Intermediary Re-lending Loan Program (IRP); USDA loans for establishing revolving loan funds to provide financing for rural businesses and community development
Rural Business Enterprise Grants (RBEG); USDA grants for assisting small and emerging rural businesses to nonprofit and public bodies
Rural Business Opportunity Grants (RBOG); USDA assist in the economic development of rural areas
Rural Cooperative Development Grant Program; USDA grants for improving economic conditions of rural areas through development of new cooperatives
Small Business Innovation Research Program (SBIR); USDA grants for feasibility studies and product research and development to small businesses
7(a) Loan Guaranty Program; SBA SBA guarantees loans made to small businesses by lenders
504 Certified Development Company Program (CDC); (SBA) loans for building, improving, or purchase of a site or facility; and purchase of major equipment/machinery
SBA MicroLoan Program; very small loans and training primarily for business start-up
Small Business Investment Companies (SBICs); SBAVenture capital and business start-up capital typically for companies with high-growth potential
Down Payment Farm Ownership Loan Programs; FSA Assist beginning farmers and ranchers to purchase a farm or ranch
Loans for Socially Disadvantaged Persons; FSA Farm purchase and operating loans targeting socially disadvantaged groups
Rural Business Investment Program (RDIP); USDA and SBA Promotes economic growth and creates job opportunities in rural areas
New Markets Venture Capital Program (NMVC); SBA Promotes economic development in low income areas
Value Added Producer Grant Program; USDA Grants sued for marketing value-added agricultural products
Renewable Energy and Energy Efficiency Program (REEEP); USDA Assist in purchase of renewable energy systems and energy efficiency improvements
Virginia Business Assistance Loan Guarantee Program; VBA Deficiency guaranty up to $500,000
Virginia Capital Access Program; VBA Gap financing to small businesses
Southside Tobacco Region Capital Access Program; VBA loan loss reserve fund for banks