7 U.S.C. § 1936b
Section 1936b · Intermediary relending program
Viewing 7 U.S.C. § 1936b as in effect on February 7, 2014. The text changed in 1 later edition (most recent December 20, 2018).
View current version →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).
Entities eligible for loans and loan guarantees described in subsection (a) are—
(1) public agencies;
(2) Indian tribes;
(3) cooperatives; and
(4) nonprofit corporations.
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.
The Secretary shall not make loans under section 9812(a) of title 42.
There is authorized to be appropriated to carry out this subsection $25,000,000 for each of fiscal years 2014 through 2018.