You Can Use a USDA B&I Loan to Refinance a Ballooning Loan
You will recall from earlier articles that a USDA Business and Industries Loan (B&I Loan) is a terrific program if your commercial property is located in a town of less than 50,000 people. The B&I loan program is a government guarantee program similar to that of the SBA, and it is intended to help businesses in rural areas.
Can you use a B&I loan to refinance a balloon payment? The answer, surprisingly, is yes!
Do you need a commercial loan on an income property located in a small town? Please email a brief description to Tom Blackburne at tommy@blackburne.com or call him at 574-210-6686.