Business and Industry Guaranteed Loans (B & I)

  • Mary Warren,
  • Business Programs Director
  • USDA Rural Development
  • 2118 W. Park Court, Suite A,
  • Champaign, IL 61821
  • Phone: (217) 403-6218
  • Fax: 855-832-8691
  • Email:
  • Website Link:

Purpose of the Program

The B&I Guaranteed Loan Program is designed to assist eligible public and private organizations in rural areas to obtain quality loans for the purpose of improving, developing, or financing business, industry, and employment, as well as improving the economic climate in rural communities.

Who is Eligible

Eligible applicants are legal entities, including individuals, corporations, partnerships, and other public and private organizations located in rural areas. Rural areas are defined as communities and areas with a population of less than 50,000.

Application Process

Guidelines are available at  Applications are accepted year round.

Availability of Funds

A loan to one borrower must not exceed $10 million.  For loans of $5 million or less the maximum guarantee is 80 percent; the percentage declines for larger loans.

How Funds are to be used

Funds may be used for acquisitions, construction, expansion, modernization, purchase of equipment and machinery, working capital, refinancing and other related project costs.  Interest rates may be fixed or variable and are negotiated.

Types of Assistance

Loan guarantees

Year Program was established