The United States Department of Agriculture (USDA) partners with both public and private community-based organizations, as well as financial institutions, to provide funding through select programs to support economic growth in rural areas. Rural areas are defined by the program as projects in areas of 50,000 inhabitants or less, making assisted living facilities a great option for USDA financing.
Since 2016, West Town Bank & Trust has authorized more than $500 million to businesses across the country through various USDA loan programs. Over the last three years, assisted living facilities secured nearly $35 million in financing through the USDA B&I Loan Program, ranking as the #9 industry to use the program during this period.
How Assisted Living Facilities Use USDA Loans
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“We are grateful to have worked with West Town Bank in securing USDA and construction financing for the landfill gas to RNG project in which our fund invested. The West Town Bank team remained focused, patient, and facilitated creative solutions throughout the entire process.”
– Greg Roti, CEO of Climate Capital Partners