Loans For Food Supply Companies
Ready Capital can help claim up to $50 million in loan funds from the USDA B&I and REAP Guaranteed Loan Program.
Take Advantage of Flexible Financing While Still Available
Did you know that businesses may be eligible for up to $50 million and loan terms for up to 10-30 years for all eligible projects that will encourage growth?
If a business is involved in the storage, transportation, distribution, manufacturing, or processing of food, Ready Capital can help get the funding needed for eligible projects. As a top USDA lender, we have extensive experience working with government agencies to expedite loan applications and increase our chances of success.
What Type of Business Can Qualify?
Most organizations in the middle of the supply chain, from a logistics company to manufacturing businesses, can qualify for a guaranteed loan, if they are located in a rural area. Communities with populations of 50,000 or less typically qualify.
What Determines Eligibility?
The USDA desires to expand food supply chain activities, address bottlenecks, and create a more resilient U.S. food supply chain. Eligible uses include business improvement projects, debt refinancing, building purchases, new construction and renovation, equipment financing, and working capital. For project ideas, speak with a Ready Capital expert to learn if our lending partners can provide funding under the USDA program.
Benefits of Government Loans for Food Supply Companies
Disruptions to the food supply chain have made it difficult for companies to stay afloat—and nearly impossible to grow without outside funding. However, conventional lenders are often unwilling to offer loans to struggling businesses with limited capital and collateral. Even if a business is positioned for growth, traditional loan options may not provide the needed flexibility.
Ready Capital helps food supply businesses explore alternative options to fund their growth. Our business members can use SBA and USDA loans for nearly any project, from financing day-to-day expenses to acquiring a business. Additionally, our loans provide:
Better Cash Flow
Many USDA and SBA 7(a) loans offer longer terms than conventional loans, allowing balances to be paid off over time. With smaller monthly payments, more money can be invested into the business in order to maintain a positive cash flow.
Fewer Restrictions
Small and rural businesses often struggle to find conventional lenders willing to take a risk on their projects. SBA and USDA loans offer an alternative option to borrowers who have exhausted other options without requiring them to settle for unreasonable terms.
Minimal Collateral and Equity Injection
With a focus on maintaining operations, business owners may not have a substantial down payment saved up. Luckily, they may be able to obtain a USDA loan with as little as 10% down and minimal or nonexistent collateral.
Partner with a Top USDA Lender
Securing a loan is never easy, but it can be especially complicated for businesses with limited options. Choosing the right lender can increase the chances for success.
At Ready Capital, we do everything possible to prepare a business for the application process. Whether needing assistance to create a business plan or pulling financial reports to include with an application, our team is here to offer support. Contact our team today to learn more about loan options for food supply companies.
Explore Our Loan Programs
The USDA offers several loan programs for various purposes, from renewable energy upgrades to rural job creation. Explore our business loans to learn which options may be available for food supply companies.