LENDING

1st International Bank = Access to Capital

USDA Loans

FIB offers USDA B&I Loans nationally.

Program Details:

• Loans up to $15 million
• Terms:

• Up to 7 Years for Working Capital
• Up to 15 Years for Machinery and Equipment
• Up to 30 Years for Real Estate

• Maximum Interest Rate of WSJP + 2.25%

• Floating or Fixed Rates

• Proceeds can be used for the following purposes:

• Purchase Real Estate or Buildings
• Purchase Equipment
• Leasehold Improvements
• Inventory
• Working Capital
• Loan Fees and Costs
• Feasibility Studies
• Construction
• Refinance Debt, must create new jobs or secure existing jobs (e.g., by improving
  cash flow)
• Commercial Lease Projects (retail centers, office buildings, industrial facilities, etc.)

• Must have enough committed tenants to break even
• New developments or renovations

Eligibility:

• Project must be in a rural area

• Any area other than a city or town with a population > 50,000

• Majority ownership must be held by US citizens or permanent residents

• Borrower must have tangible balance sheet equity of the following at loan closing:

• 10% or more for existing business
• 20% or more for new business
• 25% - 40% or more for energy projects

Collateral:

• Real Estate – Loans up to 80% of appraised value
• Machinery and Equipment – Loans up to 70% of appraised value
• Accounts Receivable (<90 Days) – Loans up to 60% of appraised value
• Inventory – Loans up to 60% of appraised value

Please call 1st International Bank for more details