USDA Seeking Applicants For Rural Development Loans
Lincoln- USDA Rural Development (RD) is seeking applications for the Intermediary Re-lending Program (IRP).
Through the IRP program USDA RD provides direct loans to establish revolving loan funds. Eligible applicants include Native American groups, private nonprofit corporations, public agencies, and cooperatives.
IRP loans are made for a 30 year term, at one percent interest, with a three year principal deferral and the maximum loan amount per request is $400,000.
Loan funds from RD become the applicant's revolving loan fund dollars used for the acquisition of land and buildings, purchase of machinery and equipment, working capital and feasibility studies.
Recipients must be located in a rural area with a population of less than 25,000.
For more information regarding the IRP program visit: http://www.rurdev.usda.gov/BCP_irp.html.
Applications are accepted anytime with quarterly deadlines of March 29, June 28, September 30 and December 31. Application information, including an application template and forms, are available by contacting Rural Development to discuss a proposed project.
For more information on this program or to discuss a proposed project, please contact one of the following Business Program Specialists:
- Marla Marx, firstname.lastname@example.org or (308) 632-2195 extension 1132 – panhandle and southwest counties
- Kelley Messenger, email@example.com or (308) 237-3118 extension 1120 – north and south central counties
- Bill Sheppard, firstname.lastname@example.org or (402) 371-5350 extension 1004 – northeast and southeast counties
For additional information on RD projects, please visit Rural Development's new interactive web map featuring program funding and success stories for fiscal years 2009-2011. The data can be found at: http://www.rurdev.usda.gov/RDSuccessStories.html.