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Relending
Intermediary Relending Program The purpose of the Intermediary Relending Program (IRP) is to finance business facilities and community development projects in rural areas. This is achieved through loans made by the Rural Business-Cooperative Service (RBS) to intermediaries. Intermediaries re-lend funds to ultimate recipients for business facilities or community development. Intermediaries establish revolving loan funds so collections from loans made to ultimate recipients in excess of necessary operating expenses and debt payments will be used for more loans to ultimate recipients. |
News
Lumbee River EMC Names New Chief Executive Red Springs, N.C. (May 10, 2013) – Lumbee River EMC’s Board of Directors announces the naming of Mr. Steven more... |
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