Indianapolis, IN, Feb 13, 2013 -- USDA Rural Development (RD) is seeking applications for the Intermediary Re-lending Program (IRP).
Through the IRP program USDA RD provides direct loans to establish revolving loan funds. Eligible applicants include Native American groups, private nonprofit corporations, public agencies, and cooperatives.
IRP loans are made for a 30 year term, at one percent interest, with a three year principal deferral and the maximum loan amount per request is $400,000.
Loan funds from RD become the applicant's revolving loan fund dollars used for the acquisition of land and buildings, purchase of machinery and equipment, working capital and feasibility studies.
Recipients must be located in a rural area with a population of less than 25,000.
For more information regarding the IRP program visit: http://www.rurdev.usda.gov/BCP_irp.html.
Applications are accepted anytime with quarterly deadlines of March 29, June 28, September 30 and December 31. Application information, including an application template and forms, are available by contacting Rural Development to discuss a proposed project.
For more information on this program or to discuss a proposed project, please contact one of the following Business Program Specialists:
Anthony Kirkland/Northern Director, firstname.lastname@example.org, or (260) 244-6266 Ext. 114
Adams, Allen, DeKalb, Elkhart, Huntington, Kosciusko, LaGrange, Miami, Noble, Steuben, Wabash, Wells, Whitley counties.
Jerry Hay, email@example.com, or (812) 346-3411 Ext. 126
Bartholomew, Clark, Dearborn, Decatur, Floyd, Franklin, Jackson, Jefferson, Jennings, Johnson, Ohio, Ripley, Scott, Shelby, Switzerland, Washington counties.
Deborah Boudreau, firstname.lastname@example.org, or (812) 384-4634 Ext. 151
Brown, Clay, Daviess, Greene, Knox, Lawrence, Martin, Monroe, Morgan, Owen, Sullivan, Vigo counties.
Curtis Johnson, email@example.com, or (765) 747-5531 Ext. 110
Blackford, Delaware, Fayette, Grant, Hamilton, Hancock, Henry, Howard, Jay, Madison, Marion, Randolph, Rush, Tipton, Union, Wayne counties.
John Anthrop, firstname.lastname@example.org, or (765) 362-0405 Ext. 108
Benton, Boone, Clinton, Fountain, Hendricks, Montgomery, Parke, Putnam, Tippecanoe, Vermillion, Warren counties.
Wayne Dubble, email@example.com, or (812) 482-1171 Ext. 136
Crawford, Dubois, Gibson, Harrison, Orange, Perry, Pike, Posey, Spencer, Vanderburgh, Warrick counties.
Melissa Christiansen, firstname.lastname@example.org, or (574) 772-3066 Ext.125
Carroll, Cass, Fulton, Jasper, LaPorte, Lake, Marshall, Newton, Porter, Pulaski, St. Joseph, Starke, White counties.
For additional information on RD projects, please visit Rural Development’s new interactive web map featuring program funding and success stories for fiscal years 2009-2011. The data can be found at: http://www.rurdev.usda.gov/RDSuccessStories.html.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Tom Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, has an active portfolio of more than $172 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
USDA is an equal opportunity provider, employer, and lender. To file a complaint of discrimination, write: USDA, Director, Office of Civil Rights, 1400 Independence Avenue, SW, Washington, DC 20250-9410 or call (800) 795-3272 (voice), or (202) 720-6382 (TDD).