Section 4274.352 - Loan documentation for ultimate recipients(a)Agency IRP loans. Prior Agency concurrence is required when an intermediary makes loans to an ultimate recipient from its Agency IRP loan funds (this applies to each Agency IRP loan received). A request for Agency concurrence in approval of a proposed loan to an ultimate recipient, whether made directly or through a loan participation purchase, must contain or comply with, as appropriate, the items identified in paragraph (b)(1) through (5) of this section and must include information listed in the IRP Revolving Loan Fund File Checklist, on the Agency website at the USDA Rural Development Intermediary Relending Program website:(1) Certification by the intermediary that:(i) The ultimate recipient is eligible for the loan;(ii) The loan is for an eligible purpose;(iii) Agency IRP loan funds are not more than 75 percent of the total project costs;(iv) The loan complies with all applicable statutes and regulations;(v) The ultimate recipient is unable to finance the proposed project through commercial credit or other Federal, State, or local programs at reasonable rates and terms; and(vi) The intermediary and its principal officers (including immediate family) hold no legal or financial interest or influence in the ultimate recipient, and the ultimate recipient and its principal officers (including immediate family) hold no legal or financial interest or influence in the intermediary. The interest and influence of a cooperative member when the intermediary is a cooperative is an allowable exception to this paragraph.(2) A completed and executed request for environmental information on a form provided by the Agency for projects that meet the criteria for a NEPA review categorical exclusion, NEPA environmental assessment or NEPA environmental impact statement in accordance with § 4274.305(b)(2) .(3) All comments obtained in accordance with § 4274.305(a) regarding intergovernmental consultation (if required).(4) Copies of sufficient material from the ultimate recipient's application and the intermediary's related files to allow the Agency to determine the: (i) Name, address, Unique Entity Identifier, Federal ID number, and North American Classification System (NAICS) Code of the ultimate recipient;(iii) Interest rate and term;(iv) Location, nature, and scope of the project being financed;(v) Uses and sources of funds; and(vi) Nature and lien priority of the collateral.(5) Such other information as the Agency may request.(b)Revolved IRP loan funds. An intermediary may use revolved funds to make loans to ultimate recipients in accordance with § 4274.320(b) without obtaining prior Agency concurrence as required in § 4274.352(a) and are also exempted from completion of items required by paragraphs (a)(2) and (3) of this section.86 FR 72156, Dec. 21, 2021, as amended at 89 FR 34958, May 1, 2024 86 FR 72156, 12/21/2021; as amended at 89 FR 34958, 5/1/2024