General IRP

The IRP (Intermediary Re-lending Program) is a loan to Prairieland EDC from USDA Rural Development. Prairieland EDC, in turn, loans the funds to eligible small businesses for financing fixed assets or working capital. The goals of the IRP include these objectives: create and retain jobs for the citizens of the area, provide rural business with a source of capital not readily available in the rural area, and generate tax revenue for the cities and counties of the region.

• Fills gap of rate and term
• Must be secured – rarely subordinate
• Fixed Interest Rate of 6% today
• Term – up to maximum of 15 years
• Loan from $5,000 to $250,000
• Community Impact – Jobs / Tax Base / Capital

Sample IRP Project (PDF file)