USDA Intermediary Relending Program (IRP)
USDA 1% interest loans up to $15 million to lenders/intermediaries who re-lend to rural businesses to create jobs in rural communities.
About this program
The Intermediary Relending Program provides 1% interest loans to eligible intermediary lenders (public agencies, Indian tribes, cooperatives, nonprofit corporations) to establish revolving loan funds. Intermediaries then issue loans up to $400,000 from these funds to qualified rural businesses (located in towns/villages of 50,000 or fewer people and not adjacent to large cities). Funds can be used to start, expand, or modernize rural businesses, create employment, and improve economic conditions in rural areas.
Eligibility
Intermediary lenders: public agencies, Indian tribes, cooperatives, and nonprofit corporations. Ultimate recipients: qualified rural businesses in towns under 50,000 population not adjacent to larger urban areas.
Requirements
- Intermediary status (public agency, tribe, cooperative, or nonprofit)
- Demonstrated lending capacity
- Plan for revolving loan fund operation