rural downtown

Recovery Loans

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The Center for Rural Affairs has launched a recovery loan program to help businesses and local economies recover from the pandemic. We will deploy up to $2 million in low interest rate loans to qualified borrowers.

Recovery Loan Terms 

Amount: Up to $50,000; business loans up to $250,000 are available at blended interest rates

Term: Up to 6 years

Rate: 0% through December 2021; 2.75% for calendar year 2022; 5.25% starting January of 2023 and thereafter

Timeline: Quick processing time

Use of funds: Business recovery, business growth, new business start, working capital, equipment, inventory, and real estate

Other: Collateral requirements are flexible, no loan origination fee, no prepayment penalties

Additional payment relief for qualified loans: 

  • Small Business Administration Debt Relief: Eligible borrowers may qualify for up to six months of payment relief from SBA under the CARES Act.
  • Center for Rural Affairs Deferred Payments: Businesses who can demonstrate at least a 25% reduction in gross receipts between comparable calendar quarters in 2019 and 2020 may qualify for up to 6 months of deferred repayment. Deferred payments will be added to the end of the term. Center for Rural Affairs deferred payments are not allowed in cases where the loan qualifies for 6 months of SBA Cares Act payments.

Start an application at: