| Intermediary Relending Program Overview |
Oles Lodge
Paxton, Nebraska
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The Purpose Of The Intermediary Relending Program (IRP) Is...To provide intermediary loans to ultimate recipients for community development projects, establishment and expansion of businesses and creation and/or saving of jobs. |
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Eligible Applicants Include...Public bodies/agencies (local/state government), non-profits, Indian tribes, and cooperatives. |
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Terms And Conditions... |
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USDA Rural Development makes loans to intermediaries who establish revolving loan funds to assist small non-farm ultimate recipient businesses who are unable to obtain adequate bank financing. |
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The term of the intermediary's loan is for 30 years at a 1 percent rate of interest. |
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The term of loan from intermediaries to ultimate recipients is set by the intermediary. Interest rate is negotiated between intermediary and ultimate recipient. |
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Loan funds of ultimate recipients may be used to purchase real estate and equipment, and for working capital or refinancing. Funds cannot be used for agricultural production, golf courses, racetracks, or gambling facilities. |
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Eligible areas include unincorporated rural areas, cities, and towns with populations of 25,000 or less. |
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Intermediary loan funds to ultimate recipient businesses cannot be used for more than 75 percent of the total project cost or $250,000, whichever is less. |
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View...The detailed Intermediary Relending Program Fact Sheet. |
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| Locate And Contact...Your nearest USDA Rural Development Office. | |