The purpose of the IRP program is to alleviate poverty and increase economic activity and employment in rural communities. These revolving loan funds are used to assist with financing business and economic development activities to create or retain jobs in disadvantaged and remote communities. Loans made under the IRP Loan Program may be made for a maximum of ten years. The maximum loan may not exceed 50% of the total project or $250,000. The interest rate on these loans is fixed at 7%.

Loan proceeds can be used to fund the following projects:

• The acquisition, construction, conversion, enlargement, or repair of a business or business facility,particularly when jobs will be created or retained
• The purchase or development of land (easements, rights of way, buildings, facilities, leases, materials)
• To purchase equipment, leasehold improvements, machinery, supplies
• Start-up costs and working capital
• Pollution control and abatement
• Transportation services and feasibility studies

The eligible geographical areas serviced by this program are Covington, Forrest (excluding the City of Hattiesburg), Jefferson Davis, Jones, Lamar, Marion, Pearl River, Perry, Pike, Stone, and Walthall.

This program is made possible by the USDA Rural Business Cooperative Services and is federally funded. Therefore, all applicants must comply with various federal laws, including those relating to minority employment nondiscrimination, environmental impact, flood insurance, historical preservation, non-relocation, labor relations and other federal requirements.

PRVO, Inc. does not discriminate on the grounds of race, religion, color, sex, familial status, age, national origin or handicap in any program or employment. This institution is an Equal Opportunity Provider. Complaints should be sent to: USDA, Director, Office of Civil Rights; Washington, DC 20250-9410.