Financial Packages

USDA/SBA Programs

The U.S. Department of Agriculture’s (USDA) Rural Development, and the Small Business Administration (SBA) offer a variety of financing programs for companies.  Rural Development focuses on loan guarantees, grants and direct loans; SBA offers lending, guaranty and equity investment programs.

Rural Development Business-Cooperative Programs

Eight different programs exist within the Business-Cooperative Programs for businesses.  They include:

• Business and Industry Guaranteed Loans
• Rural Business Enterprise Grants
• Rural Business Opportunity Grants
• Rural Cooperative Development Grants
• Intermediary Relending Program
• Rural Economic Development Loans and Grants
• Value-Added Producer Grants
• Renewable Energy & Energy Efficiency Grants

Through its Rural Business-Cooperative Programs, Rural Development funded 63 North Dakota projects totaling $30,229,498 in fiscal year 2001; 52 projects totaling $42,674,490 in fiscal year 2002; and 58 projects totaling $42,783,048 in fiscal year 2003.

SBA Financial Assistance

SBA’s finance programs enhance the ability of lenders to provide long- and short-term loans to small businesses that might not qualify through normal lending channels.  There are four basic types of SBA lending, guaranty and equity investment programs available:

• 7(a) Loan Guaranty Program
• 7(m) Microloan Program
• 504 Certified Development Company Loan
• Small Business Investment Company

In 2001, SBA loaned or guaranteed $65,166,100 toward 280 projects in 70 North Dakota communities.  In 2002, SBA loaned or guaranteed $57,133,350 toward 261 projects in 89 North Dakota communities. 


Related Links:

USDA Rural Development

Small Business Administration