Select business properties located north of Tampa Road may be eligible for a USDA Business and Industry Guaranteed Loan.
A new Business and Industry Guaranteed Loan offering by USDA has been identified as being available for properties located in the Cypress Lakes Industrial Park as well as other select properties, north of Tampa Road. If your property is located in the "eligible area" as identified on the USDA Map of Eligible Properties in the City of Oldsmar (PDF) then this program may be for you. Details on this program can be found below:
USDA Business & Industry Guaranteed Loans (B&I) The purpose of the B&I Guaranteed Loan Program is to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rural communities. This purpose is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide lasting community benefits. It is not intended that the guarantee authority will be used for marginal or substandard loans or for relief of lenders having such loans.
Individual borrowers must be citizens of the United States (U.S.) or reside in the U.S. after being legally admitted for permanent residence. Corporations or other nonpublic body organization-type borrowers must be at least 51% owned by persons who are either citizens of the U.S. or reside in the U.S. after being legally admitted for permanent residence. B&I loans are normally available in rural areas, which include all areas other than cities or towns of more than 50,000 people and the contiguous and adjacent urbanized area of such cities or towns.