Intermediary Relending Program

To finance business facilities and community development.



Agency - Department of Agriculture

Established in 1862, the Department of Agriculture serves all Americans through anti-hunger efforts, stewardship of nearly 200 million acres of national forest and rangelands, and through product safety and conservation efforts. The USDA opens markets for American farmers and ranchers and provides food for needy people around the world.

Office - See Regional Agency Offices.

RBS State Office listed in Appendix IV of the Catalog.



Program Accomplishments

Not Applicable.

Uses and Use Restrictions

An entity that receives an Intermediary Relending Program (IRP) loan from the Rural Business-Cooperative Service (RBS) is referred to as an intermediary.

Intermediaries must relend all of the loan funds received from the IRP loan for business facilities or community development in rural areas.

An entity that receives a loan from an intermediary is referred to as an ultimate recipient.

The maximum loan to any one intermediary is $2 million.

The maximum term is 30 years and the interest rate is one percent per annum.

Intermediaries may not use IRP funds to finance more than 75 percent of the cost of an ultimate recipient's project or for a loan of more than $250,000 to one ultimate recipient.

(No more than 25 percent of an IRP loan approved may be used for loans to ultimate recipients that exceed $150,000.).

Eligibility Requirements

Applicant Eligibility

Eligible intermediaries may include: Private nonprofit organizations, State or local governments, and Federally recognized Indian tribes and cooperatives.

Beneficiary Eligibility

Ultimate recipients may include: For profit organizations, individuals, public and private nonprofit organizations.

Credentials/Documentation

Intermediaries must have adequate legal authority and a proven record of successfully assisting rural businesses and industries. Ultimate recipients must not be located within a city with a population of 25,000 or more. Both intermediaries and ultimate recipients must be unable to obtain the loan at reasonable rates and terms through commercial credit or other Federal, State, or local programs. This program is excluded from coverage under OMB Circular No. A-87. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.

Aplication and Award Process

Preapplication Coordination

Preapplication coordination is not applicable.

Environmental impact information is not required for this program.

This program is eligible for coverage under E.O.

12372, 'Intergovernmental Review of Federal Programs.' An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review.

Application Procedures

2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Potential intermediaries should file applications with the State office for the State in which the intermediary's headquarters is located. The application package includes Form 4274-1 and a written work plan. More details are available in 7 CFR 4274.343, or from the appropriate Rural Development State Office. The Rural Development administers the program on the local level. Intermediaries develop their own application procedures for ultimate recipients.

Award Procedures

The application of each intermediary will be evaluated by the RD State Office. Applications received by RBS will be reviewed and ranked quarterly and funded in the order of priority ranking.

Deadlines

Contact the headquarters or regional office, as appropriate, for application deadlines.

Authorization

Health and Human Services Act of 1986, Section 407, 7 U.S.C 1932.

Range of Approval/Disapproval Time

From 30 to 60 days.

Appeals

Adverse actions by RBS in connection with this program may be appealed by contacting the Area Supervisor of the USDA National Appeals Division. Appeals will be handled in accordance with 7 CFR 1900-B.

Renewals

Not Applicable.

Assistance Considerations

Formula and Matching Requirements

This program has no statutory formula. Matching requirements are not applicable to this program. MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance

Applicant intermediaries must show a need for the funds and limit the request to an amount they can expect to use within one year. After a loan is approved, the funds are released to the intermediary in multiple advances as required to fund loans to ultimate recipients. Method of awarding/releasing assistance: quarterly. Method of awarding/releasing assistance: quarterly.

Post Assistance Requirements

Reports

Intermediaries must submit quarterly reports on lending activity, income and expenses, financial condition and progress, and an annual budget.

No cash reports are required.

Intermediaries must submit quarterly reports on lending activity, income and expenses, financial condition and progress, and an annual budget.

No cash reports are required.

Intermediaries must submit quarterly reports on lending activity, income and expenses, financial condition and progress, and an annual budget.

Intermediaries must submit quarterly reports on lending activity, income and expenses, financial condition and progress, and an annual budget.

Intermediaries must submit quarterly reports on lending activity, income and expenses, financial condition and progress, and an annual budget.

No expenditure reports are required.

No performance monitoring is required.

Audits

In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, non-Federal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503.

Records

Records and accounts must be maintained to reflect the operations of each project.

Financial Information

Account Identification

12-4233-0-3-452; 12-2069-0-1-452.

Obigations

(Direct Loans) FY 16 Not Available; FY 17 est $18,889,000; and FY 18 Estimate Not Available

Range and Average of Financial Assistance

This program has no statutory formula. Matching requirements are not applicable to this program. However, Intermediaries may not use IRP funds to finance more than 75 percent of the cost of an ultimate recipient's project MOE requirements are not applicable to this program.

Regulations, Guidelines, and Literature

7 CFR 4274, Subpart D; 7 CFR 1951, Subpart R.

Information Contacts

Regional or Local Office

See Regional Agency Offices. RBS State Office listed in Appendix IV of the Catalog.

Headquarters Office

Lori Washington 1400 Independence Avenue, SW Room 4204 Mailstop 3226, Washington, District of Columbia 20250 Email: Lori.Washington@wdc.usda.gov Phone: 202-720-1400

Criteria for Selecting Proposals

Factors considered in judging applications include: Financial condition, assurance of repayment ability, equity, collateral, experience and record of managing a loan program or providing other assistance to rural businesses, ability to leverage with funds from other sources, extent assistance would flow to low income persons.



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