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Nebraska
Housing

Business and Cooperatives

Intermediary Relending Program

Provides intermediary loans to ultimate recipients for community development projects, establishment and expansion of businesses and creation and/or saving of jobs.

Eligibility:

  • Eligible applicants include public bodies/agencies (local/state government), non profits, Native American tribes and cooperatives.

 

Loan Terms and Conditions:

  • 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.

 

  • The term of the intermediary's loan is for 30 years at a one percent rate of interest.

 

  • The term of the loan from intermediaries to ultimate recipients is set by the intermediary.  The interest rate is negotiated between the intermediary and the ultimate recipient.

 

  • 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.

 

  • 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.

 

  • Eligible areas include unincorporated rural areas, cities, and towns with populations of 25,000 or less.

 

 

 

 

 

 

 

 

See Also
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Last Modified:12/11/2013 
 
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