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Intermediary Relending Program
Intermediary Relending Program money is lent to private non-profit corporations, any state or local government, an Indian Tribe, or a cooperative which in turn is re-lent by the intermediary to the ultimate recipients. The ultimate recipient must be unable to obtain credit elsewhere at reasonable rates and terms.
Program Details
| Eligibility: |
Intermediaries (or borrowers) are private non-profit corporations, any state or local government, an Indian Tribe, or a cooperative. The service area must be under 25,000 in population.
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Funding: |
Maximum Rural Development funding is $2 million per intermediary. Maximum loan to any ultimate recipient is $150,000.
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| Terms: |
Maximum term is 30 years.
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Interest: |
Rates to intermediaries are 1%. Rates to ultimate recipients negotiable; lower rates are encouraged.
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Collateral: |
Real or personal property or pledged securities of intermediary or ultimate recipient.
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| More Information: |
For more information, contact our State Office at (785) 271-2700.
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