USDA Loans

In rural areas, the primary purpose of the USDA loan program is to attract commercial investment capital, stimulate the local economy, and create jobs.

The USDA loan program enables local lenders to expand their lending capabilities to a wider range of rural and agricultural businesses. PremierWest funds the loan and receives a guaranty from the USDA for up to 80%.

Business Financing.....Learn More

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Summary

Loan Purposes:

  • Land and building including purchase, renovation and new construction; need not be owner occupied
  • Leasehold improvements
  • Machinery / equipment / furniture / fixtures
  • Business acquisition or start-ups
  • Working capital and inventory
  • Debt refinance

Here is the Financial Information You Will Need to Get Started:

  • A current personal financial statement (current within 60 days of application)
  • 3 years of personal Federal Tax Returns including all schedules, statements, K-1s, etc.
  • 3 years of business Federal Tax Returns including all schedules, statements, K-1's, etc.
  • 3 years of business financial statements, balance sheet and income statement
  • Current interim business financial statements, balance sheet and income statement (no older than 60 days)

Click here for information on amounts, terms, rates, fees, pre-payment penalties, collateral and required guarantees.