Heritage Bank is experienced in the B&I (Business and Industry) guarantee program. This program is offered by the USDA through the department of Rural Development. The purpose of the program is to provide loan guarantees for business and industrial development to create and maintain employment, expand, and to improve economic climate. It is available in rural areas, cities and towns of less than 50,000 of population.

No size restrictions on size of business.
Loan guarantees of up to $10 Million per borrower, higher in some circumstances
Fund working capital for up to 7 years
Fund machinery and equipment for up to 15 years (or useful life)
Fund real estate for up to 30 years.
Refinancing available for viable projects, under certain conditions

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