Statewide, Apr 25, 2012 -- Quinton Robinson, acting state director of USDA Rural Development, today announced the deadline for the Intermediary Relending Program (IRP) applications has been extended to May 16, 2012.
This program is to finance business development or expansion and community projects in rural areas. The objective is to increase economic activity and employment in rural communities. This is achieved through loans made by the Agency to intermediaries. A revolving loan fund is established by the intermediary. The intermediary relends the funds to an ultimate recipient for eligible purposes.
Applicants may be private nonprofit corporations, public agencies or cooperatives that are new or existing intermediaries, to relend the funds to eligible recipients in rural areas with population of 25,000 or fewer.
The state allocation of program funding is $160,000. Applicants requesting larger amounts may compete for national pooled funds.
Contact the Business Programs Division at (706) 552-2561 or (706) 546-2154, or for further information visit http://www.rurdev.usda.gov/gabusinessprograms.html
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