Intermediary Relending Program
Administrative Agency:
Federal Agency: U.S. Department of Agriculture, Rural Development
Program Goals:
Program purpose is to alleviate poverty and increase economic activity and employment in rural communities through financing; targeted primarily toward smaller and emerging businesses.
Resource Provided:
Loans are made to intermediaries that establish programs for the purpose of providing loans to ultimate recipients for business facilities and community development in rural areas. Intermediaries may receive up to $1 million at one percent interest for a 30-year term. Intermediaries may then lend up to $250,000, not to exceed 75% of a project, to individual borrowers.
Eligibility:
The intermediaries must be private non-profit corporations, public agencies, Indian groups, or cooperatives.
Comments:
Active intermediaries in Alaska are: Alaska Village Initiatives, Tanana Chiefs Conference, and Juneau Economic Development Council.
Program Contact: (Primary Contact listed first.)