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Business and Industry CARES Act Loan Guarantee Program

Sponsors
USDA Rural Business-Cooperative Service, USDA Rural Development, USDA Rural Utilities Service
Deadlines
Sep 15, 2021
Purpose

A USDA program for lenders to guarantee their loans to rural businesses and agricultural producers to supplement their working capital to prevent, prepare for, and respond to the economic impacts of COVID-19.

Eligibility

Eligible applicants include:

  • Federal and state-chartered banks
  • Savings and loans
  • Farm credit banks
  • Credit unions

Loans may be used to support entities located in eligible rural areas that were in operation on Feb. 15, 2020, including:

  • For-profit businesses
  • Nonprofit organizations
  • Cooperatives
  • Federally-recognized Tribes
  • Public bodies
Geographic coverage
Nationwide
Amount of funding

Guarantees 90% of loans for a maximum term of 10 years.

Application process

Lenders interested in participating in the program should contact the USDA Rural Development Business Programs Director in the state where the project is located. Interested borrowers should ask about the program with their lender.

Program fact sheet

Tagged as
Community and economic development · Emergency preparedness and response · Healthcare facilities · Human services



For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.