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Intermediary Relending Program

Open Date:

Continuous

Close Date:

Application deadlines for quarterly funding competitions are no later than 4:30 p.m. (local time) on: First Quarter, September 30, 2021; Second Quarter, December 31, 2021; Third Quarter, March 31, 2022 and Fourth Quarter, June 30, 2022

Upcoming Milestones:

Eligible Recipients:

  • Cooperative
  • Local Government
  • Native/Tribal Entity
  • Non-profit

Program Purpose:

Economic Development

Reserved for Energy
Communities?

No

Funded by:

U.S. Department of Agriculture

Overview

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.

Funding Details

Funding Source:
Funding Type:
Loan
Total Amount Available:
$0
Limit per Applicant:
Up to $2,000,000 for the first financing
Estimated Awards:
Not stated

Applicant Guidance

Contact Information

Contact your Rural Development State Office, which can be found at: https://www.rd.usda.gov/about-rd/state-offices.

 

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