Compositions and methods for application to plants are provided for a new strain of Bacillus licheniformis RTI184 having plant growth promoting activity. Compositions and extracts of Bacillus licheniformis strains that include newly identified Fengycin-like and Dehydroxyfengycin-like cyclic lipopeptides designated as “Fengycin MB-Cit” and “Dehydroxyfengycin MB-Cit”, respectively, are also provided. In particular aspects, compositions containing the Bacillus licheniformis strain RTI184 can be applied alone or in combination with chemical agents or other microbial agents to benefit plant growth.