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Department of Agriculture - Business and Industry (B&I) Guaranteed Loan Program

Federal Agency/Bureau
Rural Business-Cooperative Service
Program Name
Business and Industry (B&I) Guaranteed Loan Program
Authorizing Legislation

Consolidated Farm and Rural Development Act

Program Overview

The Business and Industry program bolsters the availability of private credit by guaranteeing loans made by lenders to rural businesses. This program improves the economic health of rural communities by increasing access to business capital through loan guarantees that enable commercial lenders to provide affordable financing for businesses in eligible rural areas.



Program Website

Type of Funding

Loan or loan guarantee

Link to application site, NOFO, FOA, or (if different from program website above)

Notice of Funding Opportunity (NOFO) or Federal Opportunity Announcement (FOA) Type


Important Dates (if applicable)

Applications are accepted from lenders on an on-going basis

FY2023 Appropriations Amount


Matching Requirement


Complementary Federal Funding Option

A B&I Loan can be used successfully with other funding opportunities. For example, borrowers will sometimes use different guaranteed loan products to finance a single project. It can sometimes be difficult to match up the timing of a loan and a grant, but there is no restriction on the borrower also receiving a grant through a different program to support their project.

Broadband-related Program Purpose/Eligible Expenditures
Speed/Technical Requirement for Broadband Infrastructure

Not Applicable 

Criteria for Eligible Recipients

Individual borrowers must be citizens of the U.S. or reside in the U.S. after being legally admitted for permanent residence. Private-entity borrowers must demonstrate that loan funds will remain in the U.S. and the facility being financed will primarily create new or save existing jobs for rural U.S. residents. Eligible areas are rural areas not in a city or town with a population of more than 50,000 inhabitants but the borrower’s headquarters may be based within a larger city as long as the project is located in an eligible local area. Check eligible addresses here:

To participate, lenders must be subject to supervision and credit examination by the applicable agency of the United States or a State including: Federal and State-chartered banks, savings and loans, Farm Credit Banks with direct lending authority, and credit unions. Other non-regulated lending institutions may also be approved by the Agency under the criteria of the OneRD regulation.

Grant Beneficiaries (if different from eligible recipients)

Not Applicable 

Programmatic Resources

Not Applicable 

Reporting Requirements

See Code of Federal Regulations, 7 CFR 5001.502.

Publicly-available programmatic data

Not Applicable 

Contact Information

Varies by state. See agency website.

Additional Information


July 2023

Funding Guide