10.437: Interest Assistance Program
Alternate Name: Interest Assistance Program Guaranteed Operating Loans
Overview
Program Number
10.437
Status
Inactive
Last Modified
Sept. 19, 2014
Date Posted
Aug. 28, 2013
Objective
To provide a 4 percent subsidy to farmers and ranchers, who do not qualify for standard commercial credit. Guaranteed loans are serviced by a lender who has entered into a Lenders Agreement with the agency.
Type of Assistance
F - Guaranteed/Insured Loans
Applicant Eligibility
Individuals, partnerships, or joint operations, legal resident aliens, corporations and cooperatives that meet the eligibility requirements for a guaranteed loan and are able to project the required cash flow margins with the aid of interest assistance.
Beneficiary Eligibility
This program aids both the borrower and lender by providing 4 percent of the interest costs and receiving up to a 90 percent guarantee on the loan.
Related Programs
Grant Awards
Interest Assistance Program direct grants
Grant Opportunities