The Intermediary Relending Program (IRP) is a rural development initiative funded by the U.S. Department of Agriculture (USDA) that provides low-interest loans to intermediaries, such as non-profit organizations and local government entities, to support rural economic development. These intermediaries then relend the funds to small businesses, entrepreneurs, and community development organizations in rural areas for business development, community facilities, and other projects that promote rural economic growth.

The IRP was established to help alleviate poverty and improve the economic conditions in rural communities. The program provides capital to intermediaries that have experience and expertise in lending and managing funds for economic development projects. These intermediaries can be local governments, economic development organizations, non-profit corporations, or cooperatives.

The loans provided by the IRP can be used to fund a variety of projects, including:

1. Business development - loans to small businesses for startup costs, expansion, or working capital.
2. Community facilities - loans to build or improve essential community facilities such as healthcare clinics, schools, and public buildings.
3. Infrastructure - loans for projects such as water and waste disposal systems, broadband access, and other infrastructure improvements.
4. Rural housing - loans to finance affordable housing for low-income families in rural areas.

The IRP is designed to complement other rural development programs, such as the Rural Business Enterprise Grant Program and the Rural Economic Development Loan and Grant Program. The program is administered by the USDA's Rural Business-Cooperative Service.

Overall, the IRP plays a crucial role in supporting economic development and job creation in rural communities. It provides access to affordable capital to small businesses, entrepreneurs, and community development organizations, which can have a significant impact on the growth and sustainability of rural economies.