United States - Apply for Intermediary Relending Program

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Procedure

Apply In Person

1. To Apply for Intermediary Relending Program, the applicant has to approach the U.S. Department of Agriculture (USDA) Rural Development link
2. An application form will be provided to the applicant by the concerned officer. or it can be downloaded from the following link
3. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
4. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
5. The applicant has to attach the photocopies of the required documents along with the application form while submitting.
6. Submit all the documents with the completed form to the concerned office.
7. Once the application is determined to be complete, USDA will conduct a further review of the management team and business plan.
8. Fee for this procedure has to be paid as per the authority request.
9. If the initial review is favourable, USDA will proceed to conduct an interview with the applicant.
10. The notification will take between 12 – 13 weeks from the receipt of the initial application.
11. The applicant will be advised of the results of the meeting within 60 days.

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Required Documents

• Application form link
• 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.
• Capitalization or equity sufficient to sustain its lending and business operations.
• Majority outstanding interest or membership must be composed of U.S. citizens.
• Intermediary and principals must have no Federal delinquent debt.
• Unable to finance the fund through its own sources or other conventional financing.
• The ability to close the IRP loan within six months of loan approval.
• A board consisting of business and civic leaders.

Office Locations & Contacts

USDA Rural Development
Rural Housing Service
1400 Independence Ave., SW,
Rm 5014, STOP 0701
Washington, DC 20250-0701
Application assistant Phone: (202) 690-0433
Contact link
Regional link

Eligibility

The following individuals are eligible:

• Non-profits and cooperatives.
• Federally-recognized tribes.
• Public agencies.

Fees

• The fee may vary from state to state around $150.00 for the application. Verify the fee and pay it has per the authority’s request.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

• Application form link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• This entire process can be completed within 30 days or as per the timeline advised by the respective department authority.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicant must complete the application form before submitting. Incomplete applications will not be accepted.
• Applicant must provide genuine information while applying for this procedure.

Required Information

• Name
• Applicant's Tax Identification Number
• Date Established
• Citizenship
• History Of Intermediary
• Litigation
• Names Of Attorneys, Accountants, And Other Parties
• Subsidiaries And Affiliates
• Purchase And Sales Relations With Others
• Receivership – Bankruptcy
• Disclosure Of Special Information Regarding Principals
• Management
• Regulatory Agencies
• What is the service area for your proposed Intermediary Relending Program revolving loan program?
• Is the applicant, or any member, officer, director or other individual or entity directly involved in the operation and management, delinquent on any federal debt?

Need for the Document

• This program gives 1% low-interest loans to local lenders or "intermediaries" who re-lend to businesses in rural areas in order to improve economic circumstances and create jobs.

Information which might help

• For more information link

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Link

Others

More information which might help people.