§ 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)Limitation on loan amounts The maximum amount of a loan by an eligible entity described in subsection
(b)to individuals and entities for a project under subsection (c), including the unpaid balance of any existing loans, shall be the lesser of—
(1)$400,000; and
(2)50 percent of the loan to the eligible entity under subsection (a).
(f)Applications
(1)In general To be eligible to receive a loan or loan guarantee under subsection (a), an eligible entity described in subsection
(b)shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require.
(2)Evaluation In evaluating applications submitted under paragraph (1), the Secretary shall—
(i)take into consideration the previous performance of an eligible entity in carrying out projects under subsection (c); and
(ii)in the case of satisfactory performance under clause (i), require the eligible entity to contribute less equity for subsequent loans without modifying the priority given to subsequent applications; and
(B)in assigning priorities to applications, require an eligible entity to demonstrate that it has a governing or advisory board made up of business, civic, and community leaders who are representative of the communities of the service area, without limitation to the size of the service area.
(g)Return of equity The Secretary shall establish a schedule that is consistent with the amortization schedules of the portfolio of loans made or guaranteed under subsection
(a)for the return of any equity contribution made under this section by an eligible entity described in subsection (b), if the eligible entity is—
(1)current on all principal and interest payments; and
(2)in compliance with loan covenants.
(h)Regulations The Secretary shall promulgate regulations and establish procedures reducing the administrative requirements on eligible entities described in subsection (b), including regulations to carry out the amendments made to this section by the Agriculture Improvement Act of 2018.
(i)Authorization of appropriations There is authorized to be appropriated to carry out this subsection $25,000,000 for each of fiscal years 2014 through 2023.
(Pub. L. 87–128, title III, § 310H, as added Pub. L. 113–79, title VI, § 6017(a), Feb. 7, 2014, 128 Stat. 845; amended Pub. L. 115–334, title VI, § 6416, Dec. 20, 2018, 132 Stat. 4762.)
Connections81 cite this · traces to 3
Cited by 81 sections · top 55
public-private-law
- Public Law 116-260Consolidated Appropriations Act, 2021
- Public Law 115-141Consolidated Appropriations Act, 2018
- Public Law 117-328Consolidated Appropriations Act, 2023
- Public Law 114-113Consolidated Appropriations Act, 2016
- Public Law 115-334Agriculture Improvement Act of 2018
- Public Law 116-94Further Consolidated Appropriations Act, 2020
- Public Law 113-235Consolidated and Further Continuing Appropriations Act, 2015
- Public Law 113-79Agricultural Act of 2014
- Public Law 115-31Consolidated Appropriations Act, 2017
- Public Law 117-103Consolidated Appropriations Act, 2022
- Public Law 116-6Consolidated Appropriations Act, 2019
- Public Law 119-37Continuing Appropriations, Agriculture, Legislative Branch, Military Construction and Veterans Affairs, and Extensions Act, 2026
statutes-at-large
- Public LawMaking appropriations for the fiscal year ending September 30, 2017, and for other purposes
- Public Law 115–141To amend the State Department Basic Authorities Act of 1956 to include severe forms of trafficking in persons within the definition of transnational organized crime for purposes of the rewards program of the Department of State, and for other purposes
- Public Law 114–113Making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2016, and for other purposes
- Public Law 116–6
- Public Law 117–103Making consolidated appropriations for the fiscal year ending September 30, 2022, and for providing emergency assistance for the situation in Ukraine, and for other purposes
- Public Law 115–334To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture through fiscal year 2023, and for other purposes
- Public Law 116–260Making consolidated appropriations for the fiscal year ending September 30, 2021, providing coronavirus emergency response and relief, and for other purposes
- Public Law 116–94Making further consolidated appropriations for the fiscal year ending September 30, 2020, and for other purposes
- Public Law 117–328Making consolidated appropriations for the fiscal year ending September 30, 2023, and for providing emergency assistance for the situation in Ukraine, and for other purposes
statute-compilations
- Sec. 310HINTERMEDIARY RELENDING PROGRAM
- Sec. 163Section 4144(d) of the Motor Carrier Safety Reauthorization Act of 2005 (49 U.S.C. 31100 note) shall be applied by substituting the date specified in section 106(3) of this Act for “September 30, 2025”.
- Sec. 6ADJUSTMENTS TO COMPENSATION
- Sec. 9OFFICE OF MANAGEMENT AND BUDGET REPORTING REQUIREMENT
- Sec. 6017INTERMEDIARY RELENDING PROGRAM
- Sec. 8CORRECTION
- Sec. 9ADJUSTMENTS TO COMPENSATION
- Sec. 6416INTEMEDIARY RELENDING PROGRAM
- Sec. 413None of the funds made available by this Act may be used by the Secretary of Veterans Affairs under section 5502 of title 38, United States Code, in any case arising out of the administration by the Secretary of laws and benefits under such title, to report a person who is deemed mentally incapacitated, mentally incompetent, or to be experiencing an extended loss of consciousness as a person who has been adjudicated as a mental defective under subsection (d)(4) or (g)(4) of section 922 of title 18, United States Code, without the order or finding of a judge, magistrate, or other judicial authority of competent jurisdiction that such person is a danger to himself or herself or others.
- Sec. 530Of amounts deposited in the Child Enrollment Contingency Fund prior to the beginning of fiscal year 2020 under section 2104(n)(2) of the Social Security Act and the income derived from investment of those funds pursuant to section 2104(n)(2)(C) of that Act, $6,093,181,000 shall not be available for obligation in this fiscal year.
- Sec. 11PAYMENTS IN LIEU OF TAXES
register
bill
- Sec. 6115Intemediary relending program
- Sec. 6416Intemediary relending program
- Sec. 6217Intermediary relending program
- Sec. 6217Intermediary relending program
- Sec. 6217Intermediary relending program
- Sec. 2Subsidy for certain rural development loan payments
- Sec. 2Subsidy for certain rural development loan payments
- Sec. 12003Subsidy for certain USDA rural development loan payments
- Sec. 6306Expanding Childcare in Rural America Initiative
- Sec. 6416Intermediary relending program
- Sec. 2Office of Rural Affairs of the Small Business Administration
- Sec. 6422Intermediary relending program
- Sec. 6305Expanding Childcare in Rural America Initiative
- Sec. 6416Intermediary relending program
- Sec. 6305Expanding Childcare in Rural America Initiative
- Sec. 6416Intermediary relending program
Traces to 3 documents
3 references not yet in our index
- Pub. L. 87–128, title III, § 310H
- 128 Stat. 845
- 132 Stat. 4762
Citation graph
cites case law
§ 1936b
Intermediary relending program
Pub. L.×22
Stat. Comp.×18
Stat.×17
Bills×16
Fed. Reg.×8
Pub. L.Pub. L. 87–128, title III, § 310H
Stat.128 Stat. 845
Stat.132 Stat. 4762
Cites 6Cited by 81 across 5 sources