U.S Dept. of Agriculture Intermediary Relending Program
 
Purpose

provide low-interest loans to private  for-profit firms located or intending to locate in Crawford County who are unable to finance the proposed project with their own resources entirely through commercial credit or other federal, state or local resources at reasonable rates and terms
 
Eligible Applicants

private for-profit businesses in or locating in Crawford County

 
Eligible Uses of Funds
  • land and building acquisition
  • building construction
  • machinery and equipment
  • working capital
Limitations

$150,000 or up to 75% of project costs, whichever is less
 
Conditions
  • business must be or intend to be located in Crawford County
  • must be willing and able to create and/or retain 1 job for every $35,000 borrowed
  • loans will not be made to a business for any activities that will cause unemployment in that business
Terms and Fees
  • 4.5% 10-year term for land and building
  • 4.5% 5-year term for machinery and equipment
  • 4.5% 3-year term for working capital
  • $500 application fee
  • 2% of the loan amount due to Economic Progress Alliance at loan closing (less $500 application fee)
  • any related legal costs due at the time of loan closing
  • 1/4 of 1% of loan amount due to Economic Progress Alliance on anniversary date of loan closing
Collateral

All loans must be adequately secured. Security for intermediary loans to ultimate recipients is negotiated between the intermediary and ultimate recipient
 
Application Process

Please contact Larry Morgan for full details and assistance
 
 
 

The Economic Progress Alliance of Crawford County prohibits discrimination in all its programs and activities on the basis of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, marital or family status. (Not all prohibited basis apply to all programs.) Persons with disabilities who require alternative means for communication of program information should contact USDA's TARGET Center at 202.720.2600 (voice and TDD). To file a complaint of discrimination, write USDA, Director of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Avenue, Washington, DC 20250-9410 or call 202.720.5964 (voice or TDD). The Economic Progress Alliance of Crawford County is an equal opportunity provider and employer.