- Local Government
- Native/Tribal Entity
Reserved for Energy
What does this program do?
This program provides 1 percent low-interest loans to local lenders or “intermediaries” that re-lend to businesses to improve economic conditions and create jobs in rural communities.
Who may apply to be an intermediary lender?
The following are eligible:
- Nonprofits and cooperatives
- Federally-recognized tribes
- Public agencies
The following are eligible to apply for a loan from the intermediary lender as an ultimate recipient. Ultimate recipients may be individuals, public or private organizations or other legal entities, given that:
- Majority ownership is held by U.S. citizens or permanent residents.
- The applicant owes no delinquent debt to the Federal Government.
- The applicant is unable to obtain affordable commercial financing for the project elsewhere.
- The project is located in an eligible rural area – Check Eligibility.
- The applicant has no legal or financial interest or influence in the work of the intermediary lender.
Are there other requirements?
Intermediary lenders must have:
- The legal authority to operate a Revolving Loan Fund (RLF).
- A record of successfully assisting rural businesses and communities, normally including experience making and servicing commercial loans.
- The ability to provide adequate assurance of repayment of the loan.