7 U.S. Code § 1936b - Intermediary relending program

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(a) In general
The Secretary may make or guarantee loans to eligible entities described in subsection (b) so that the eligible entities may relend the funds to individuals and entities for the purposes described in subsection (c).
(b) Eligible entities
Entities eligible for loans and loan guarantees described in subsection (a) are—
(1) public agencies;
(2) Indian tribes;
(3) cooperatives; and
(4) nonprofit corporations.
(c) Eligible purposes
The proceeds from loans made or guaranteed by the Secretary pursuant to subsection (a) may be relent by eligible entities for projects that—
(1) predominately serve communities in rural areas; and
(2) as determined by the Secretary—
(A) promote community development;
(B) establish new businesses;
(C) establish and support microlending programs; and
(D) create or retain employment opportunities.
(d) Limitation
The Secretary shall not make loans under section 9812 (a) of title 42.
(e) Authorization of appropriations
There is authorized to be appropriated to carry out this subsection $25,000,000 for each of fiscal years 2014 through 2018.

Source

(Pub. L. 87–128, title III, § 310H, as added Pub. L. 113–79, title VI, § 6017(a),Feb. 7, 2014, 128 Stat. 845.)

 

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