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INTERMEDIARY RELENDING PROGRAM

Purpose:  Establish a revolving loan fund for small businesses, primarily in disadvantaged and remote rural communities

Program Type:  RBS makes subsidized loans to expand credit opportunities for small businesses

Eligible Applicants:  Public bodies, nonprofit corporations, Indian tribes, and cooperatives

Eligible Areas:  Cities and unincorporated areas of 25,000 or less

Authorized Purposes:  Funds are used to establish revolving loan programs that provide financing opportunities to small businesses unable to secure adequate private funding to meet their needs

Rates and Terms:  Loans carry a one percent interest rate and a term of 30 years

When to Apply:  Year round

Who to Contact:  Kentucky Rural Development's Business and Cooperative Programs office can be reached at 859/224-7435; additional information can be viewed on the BCP national webpage