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RVIA Adds Seminar on USDA Guaranteed Loan Program to Louisville Schedule

Mark Brodziski, Business and Community Program Director for U.S. Dept. of Agriculture (USDA) Rural Community Development, will present a workshop Wednesday, December 2, at the National RV Trade Show on a guaranteed loan program that is available to members of the RV industry.


The Business and Industry (B&I) Guaranteed Loan Program is designed to save or create jobs in rural areas across America. Brodziski will cover items of interest to RV industry members including:

Who Can Get a USDA Loan? USDA loans are available to ALL businesses – dealers, manufacturers, suppliers – in rural areas with less than 50,000 in population. If a company’s headquarters location is not in a rural area, but the plant or business location that needs the funding is, the project should be eligible.

Is Money Available? USDA provides guarantees on bank loans, it does not make loans. USDA state offices received their regular fund allocation for 2009, and guaranteed funding is available.
The federal guarantee (70% to 80%) and a ready secondary market for repurchase of the loans makes the loans attractive to banks and financial institutions.

What Kind of Loans Are Available?  There is no minimum loan amount, and up to $10 million can be approved in most states. Loans over $10 million require
Washington, D.C. USDA approval. Loans can be used for: working capital; debt refinancing; equipment, land, machinery or another business purchase; construction, enlargement or modernization of a business; and more. However, B&I loans are not offered for floor plan/revolving credit purposes.


Do Many Lenders Participate In this Program? Yes, this is NOT a pilot program. USDA loans are well-established and made through local lending institutions. B&I lenders are very aware of and comfortable with B&I loans because they've been involved with them for a number of years. Lenders in qualifying areas participating in B&I loans include banks, credit unions, and savings and loans. Some national lenders also participate.

Brodziski will also discuss the terms and timing of loans, type of assistance available, equity requirements, interest rates, eligible lenders and much more.  RVIA Vice President of Government Affairs Dianne Farrelll said, “This is sure to be an informative program and one that may be the answer for many industry members looking for financing.”


The workshop will be held Wednesday, December 2 beginning at 8:00 a.m. in Room C208 of the Kentucky Expo Center.  A full breakfast for workshop attendees will be served at 7:30 a.m.  Registration is required and available on-site in Louisville at the Credentials Desk in the registration lobby, Monday & Tuesday, Nov. 30 & Dec. 1, 8:00 a.m. - 5:00 p.m. Attendees may also register at the door of the seminar on Dec. 2, from 7:00 - 8:30 a.m.  Registration Fee is $40.


To find out if your business or plant address is in an eligible area, go to http://www.rurdev.usda.gov/or/bi.htm and click the link to “On-line rural area identifier"


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