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House Introduces Rural Borrowing Improvement Act To Support Small Town Lenders
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Key points
- Representative Don Bacon introduced H.R. 10995 to reauthorize the USDA Intermediary Relending Program.
- The bill establishes a new five-year authorization window covering 2027 through 2031.
- Federal loans flow to local non-profits and cooperatives to finance small business and rural development projects.
What does HR 10995 mean for local business owners?
NewsWK — Representative Don Bacon introduced HR 10995 to extend essential federal lending authority for small towns across America. The bill reauthorizes the USDA Intermediary Relending Program, which provides crucial capital to local non-profit groups and cooperatives. These intermediary entities then issue targeted USDA rural loans to support individual entrepreneurs, local businesses, and community development projects.
How does the USDA Intermediary Relending Program operate?
Under this federal rural development lending program administered by the U.S. Department of Agriculture, federal officials loan money to local non-profits and cooperatives. In turn, these intermediaries provide financing directly to rural borrowers. Major provisions of the Rural Borrowing Improvement Act include:
- Extending statutory program authorization for a new five-year period from 2027 through 2031.
- Replacing the previous statutory authorization timeline that originally spanned from 2014 through 2023.
- Sustaining federal support for local intermediary lenders, rural individuals, and business development projects.
When did Congress receive the Rural Borrowing Improvement Act?
Representative Don Bacon (R-NE-2) introduced H.R. 10995 on November 11, 2026. This action occurred during the 119th U.S. Congress, where officials referred the measure to committee for review. Because the prior authorization period ended in 2023, the proposed five-year reauthorization offers renewed stability through 2031.
This article was produced with the assistance of AI and reviewed by our editorial team.
Sources
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