USDA Intermediary Relending Program

Overview:

The purpose of the Intermediary Relending Program (IRP) is to finance business facilities and community development projects in rural areas. This is achieved through loans made by the Rural Development, Business and Cooperative Programs (BCP) to intermediaries. Intermediaries re-lend funds to ultimate recipients for business facilities or community development.

Intermediaries establish revolving loan funds so collections from loans made to ultimate recipients in excess of necessary operating expenses and debt payments will be used for more loans to ultimate recipients.

Eligible Applicants:

Intermediaries may be private non-profit corporations, public agencies, Indian groups, or cooperatives. Intermediaries must:

• Have legal authority to carry out the proposed loan purposes and to incur and repay the debt.
• Have a record of successfully assisting rural business and industry, normally including experience in making and servicing commercial loans.
• Provide adequate assurance of repayment.

Funding Available:

$33.869 million (2005)

Deadline:

Applications may be filed on any official workday at any Rural Development State Office.

For complete information visit:

http://www.rurdev.usda.gov/rbs/busp/irp.htm