UNITED STATES DEPARTMENT OF AGRICULTURE

**Rural**

**Development**

Georgia Business Programs

Intermediary Relending Program

\(706\) 546-2154

TDD (706) 546-2034

www.rurdev.usda.gov/ga/rbs.htm

[Description:]{.underline} The purpose of the Intermediary Relending
Program (IRP) is to finance business facilities and community
development projects in rural areas and increase economic activity and
employment in rural communities. This is achieved through loans made by
the agency to intermediaries. The intermediary relends the funds to an
ultimate recipient for business facilities or community development
projects. A revolving loan fund is established, so that collections made
by the intermediary on their ultimate recipient loans (amounts in excess
of necessary operating expenses and debt payments) can be used for more
loans to ultimate recipients.

[Loan Purpose:]{.underline} All of the IRP loan funds received by an
intermediary must be re-loaned to ultimate recipients. Interest income
and allowable fees may be used for administration costs, technical
assistance to borrowers, or debt retirement. All collections from the
operation of the IRP revolving loan fund that are not used for the above
authorized expenses must be made available for relending to eligible
ultimate recipients. Loans from intermediaries to ultimate recipients
must be for the establishment of new businesses, expansion of existing
businesses, creation of employment opportunities, the saving of existing
jobs, or community development projects.

[Loan Terms:]{.underline} Loans to intermediaries are scheduled for
repayment over a period of up to 30 years. The intermediary determines
the term of the loan from the intermediary to the ultimate recipient.
The interest rate on loans to intermediaries is one percent (1%) per
annum. The intermediary sets the interest rate for the ultimate
recipient. All loans to intermediaries must be adequately secured.
Intermediaries are required to provide written collateral policies for
loans to ultimate recipients.

[Who is Eligible:]{.underline} Intermediaries may be private nonprofit
corporations, public agencies, Indian Groups, or Cooperatives. The
intermediary must be bonded and have legal authority to carry out the
proposed loan purposes and to incur and repay the debt. The intermediary
must also have a record of successfully assisting rural businesses and
industry, including experience in making and servicing commercial loans.
The intermediary must provide adequate assurance of repayment. Any type
of legal entity, including individuals and public and private
organizations may be an ultimate recipient. The ultimate recipient must
not be able to obtain the loan elsewhere at reasonable rates, and the
ultimate recipient must be qualified for the loan.

[Other Criteria:]{.underline} Loans made by the intermediaries to
ultimate recipients from the revolving loan fund must not exceed the
[lesser]{.underline} of \$250,000 or 75% of the total cost of the
ultimate recipient's project. However, [no more than 25 percent of the
IRP approved loan amount may be used for ultimate recipient loans of
over \$150,000.]{.underline} An ultimate recipient cannot be located in
a city with a population of 25,000 or more. Unless an exception is
approved, [the intermediary must have a proven record of successfully
assisting rural businesses and community development
projects.]{.underline} The [intermediary must also have a proven record
of successfully servicing commercial loans with a delinquent/loss rate
acceptable to the agency.]{.underline} [Subject to certain conditions,
intermediaries may receive initial loans of up to \$750,000 and
subsequent loans of up to \$750,000 per year with a total not to exceed
\$15 million.]{.underline}

"Who to Contact"

[Intermediary:]{.underline} Agencies desiring to make loan application
to become an intermediary can contact the Athens Rural Development
Business Programs office at (706) 546-2154.

[Ultimate Recipient:]{.underline} Contact the IRP Approved Lender for
your area.

[IRP Approved Lenders in Georgia]{.underline}

[Appalachian Community Enterprises, Inc.-Cleveland]{.underline}

Contact: Grace Fricks (706)348-6609

This lender serves 28 counties in north Georgia. Those counties are:
Chattooga, Elbert, Floyd, Franklin, Gilmer, Hall, Haralson, Heard, Polk,
Stephens, Jackson, Hart, Fannin, Carroll, Murray, Bartow, Gordon,
Whitfield, Lumpkin, Banks, Madison, Dade, Habersham, Union, Barrow,
White, Towns and Walker.

[Central Savannah River Area Rural Lending Authority,
Inc.-Augusta]{.underline}

Contact: Randy Griffin (706) 210-2010

This lender serves an 18 county area of east Georgia. Those counties
are: Bullock, Burke, Columbia, Emanuel, Glascock, Greene, Hancock,
Jefferson, Jenkins, Johnson, Lincoln, McDuffie, Richmond, Screven,
Taliaferro, Warren, Washington, and Wilkes.

[Coastal Area District Development Authority-Brunswick]{.underline}

Contact: Robin Blackwell (912) 261-2500

This lender serves 19 coastal counties of Georgia. Those counties are:
Bryan, Bulloch, Candler, Camden, Chatham, Effingham, Glynn, Liberty,
Long, McIntosh, Appling, Bacon, Brantley, Charlton, Evans, Pierce,
Tattnall, Ware and Wayne.

[Fort Valley State University Foundation, Inc.- Fort Valley]{.underline}

Contact: Joy Moten-Thomas (478) 825-6060

This Lender serves six counties in middle Georgia. Those counties are:
Crawford, Crisp, Dooley, Macon, Peach, and Taylor.

[Georgia Mountains Regional Economic Development
Corporation-Gainesville]{.underline}

Contact: Lorra Lee (770) 536-7839

This Lender serves a 19 county area in northeast Georgia. Those counties
are: Banks, Dawson, Franklin, Forsyth, Habersham, Hall, Hart, Lumpkin,
Rabun, Stephens, Towns, Union, White, Elbert, Fannin, Gilmer, Jackson,
Madison, and Oglethorpe.

[Georgia Small Business Lender, Inc.-Macon]{.underline}

Contact: Clayton Black (478) 751-6160

This lender serves an 11 county area in middle Georgia. Those counties
are: Baldwin, Bibb, Crawford, Houston, Jasper, Jones, Monroe, Peach,
Putnam, Twiggs, and Wilkinson.

[Middle Flint Area Development Corporation-Americus]{.underline}

Contact: Sarah Walls (229) 931-2909

This lender serves a 9 county area in middle Georgia. Those counties
are: Crisp, Dooly, Macon, Marion, Pulaski, Schley, Sumter, Taylor, and
Webster.

[Small Business Assistance Corporation-Savannah]{.underline}

Contact: Tony O'Reilly (912) 232-4700

This lender serves a 13 county area in south Georgia. Those counties
are: Atkinson, Bleckley, Clinch, Coffee, Dodge, Jeff Davis, Laurens,
Montgomery, Telfair, Toombs, Treutlen, Wheeler and Wilcox.

[Southeast Local Development Corporation-TN]{.underline}

Contact: Mike Ohlman (423) 424-4227

This lender serves 10 counties in north Georgia. Those counties are:
Catoosa, Chattooga, Dade, Fannin, Gordon, Murray, Towns, Union, Walker
and Whitfield.

[South Georgia Area Resource Development Agency, Inc.]{.underline}

Contact: Michelle Frey (229) 333-5277

This Lender serves a 10 county area in south Georgia. Those counties
are: Ben Hill, Berrien, Brooks, Cook, Echols, Irwin, Lanier, Lowndes,
Tift, and Turner.

Revised on: June 26, 2007