USDA Rural Development currently lists the Intermediary Relending Program (IRP) as open, with the final FY2026 quarterly application cutoff on September 30, 2026 at 4:30 p.m. Eastern Time. The program provides long-term 1 percent federal loans to qualified local intermediaries that then re-lend to rural businesses and community-development projects.
Rural healthcare and education relevance
IRP is an indirect financing pathway rather than a direct grant to hospitals, clinics or schools. Eligible ultimate-recipient projects can use intermediary financing to acquire, construct, convert, enlarge or repair business facilities; purchase equipment, machinery or supplies; make leasehold improvements; fund start-up costs or working capital; pay eligible professional fees; support transportation services; and develop educational institutions. This can make IRP relevant to qualifying rural healthcare practices, clinics, health-service businesses, education providers and other community-serving enterprises that cannot obtain affordable conventional financing.
Who applies to USDA
The direct federal applicant is the intermediary lender. USDA lists eligible intermediary applicants as nonprofit organizations, cooperatives, federally recognized Tribes and public agencies. The intermediary must have legal authority to operate a revolving loan fund, a record of assisting rural businesses and communities that normally includes commercial loan-making and servicing experience, adequate repayment capacity, sufficient capitalization or equity, no delinquent federal debt, and the ability to close the IRP loan within six months of approval.
Who may receive downstream financing
Ultimate recipients may be individuals, public organizations, private organizations or other legal entities when the applicable ownership or residency rules are satisfied, the recipient has no delinquent federal debt, the project is in an eligible rural area, affordable commercial financing is not otherwise available, and the recipient has no prohibited legal or financial interest in the intermediary. USDA describes eligible rural areas generally as places with fewer than 50,000 residents, subject to the program’s urbanized-area restrictions.
Funding structure
USDA currently lists up to $1 million for an intermediary IRP loan, with total outstanding IRP debt to a single intermediary capped at $15 million. The USDA loan carries a fixed 1 percent interest rate and a maximum 30-year term; interest-only payments may be permitted for the first three years. At least $250,000 of the IRP loan funds must be used within the first six months after closing. The maximum loan to an ultimate recipient is the lesser of $400,000 or 50 percent of the USDA loan to the intermediary. The intermediary sets the downstream interest rate and repayment structure at a level sufficient to operate and sustain the revolving loan fund.
Current deadline and submission path
USDA’s current program page lists quarterly FY2026 cutoffs of March 31, June 30 and September 30, 2026, with completed applications due to the applicable USDA Rural Development State Office no later than 4:30 p.m. Eastern Time. USDA instructs prospective intermediaries to contact their State Office and Business Programs Specialist to apply. The current USDA application materials include the IRP Application Checklist and File Docket Index, Form RD 4274-1, Form RD 4274-2, environmental review materials, equal-opportunity survey materials, certification forms and federal collection-policy forms. USDA does not publish a fixed national non-Federal cost-share percentage on the current program page, although applicants must demonstrate sufficient capitalization, equity and repayment capacity.
Atlas assessment and routing
Atlas Opportunity Score: 85/100. IRP is materially relevant to rural healthcare and education because downstream financing can support facilities, equipment, working capital, transportation and educational-institution development. The principal constraint is structural: healthcare and education organizations ordinarily do not apply directly to USDA for the federal IRP loan. They receive financing from a qualifying intermediary after that intermediary has obtained USDA capital.
Develop qualifying intermediary and ultimate-recipient opportunities within this federal workflow by identifying eligible intermediary lenders and qualifying rural healthcare, education and community-serving ultimate recipients before the September 30 cutoff. Do not represent Dr. Miltie, a hospital, clinic, school or vendor as the direct federal IRP applicant unless it independently satisfies USDA’s intermediary-lender requirements.
Application controls
The program is governed by 7 CFR Part 4274 and Assistance Listing 10.767. Before any applicant-specific package is produced, reverify the intermediary’s legal authority, lending experience, capitalization, board structure, repayment capacity, eligible service area, required environmental review, state-specific forms and the exact State Office submission instructions.
Official sources: USDA Rural Development — Intermediary Relending Program; Federal Register — FY2026 Intermediary Relending Program NOFO.