News Release
Release No.STELPRD4016681
ContactToni Grimes706-552-2561
(JUNE 7, 2012) ADDITIONAL FUNDING ALLOCATION AND APPLICATION DEADLINE EXTENDED FOR GEORGIA RURAL DEVELOPMENT INTERMEDIARY RELENDING PROGRAM
Georgia Statewide, Jun 07, 2012 --

@@Additional Funding Allocation and Application Deadline Extended for Intermediary Relending Program

June 7, 2012- ATHENS, GEORGIA- Quinton Robinson, acting state director of USDA Rural Development, today announced an additional extension to the deadline for the Intermediary Relending Program (IRP) applications to June 30, 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 increased state allocation of program funding is now $563,000.

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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