(Immediate Release) (P-76)

RECONSTRUCTION FINANCE CORPORATION

WASHINGTON

September 19, 1932

Applications for small projects are just as welcome to the Reconstruction Finance

Corporation as applications for projects requiring large amounts of money, according to statement

issued today by Harvey Couch, a Director of the Corporation:

"The Reconstruction Finance Corporation desires to correct a false impression which seems to exist in the minds of some people to the effect that the Corporation is not interested in making small loans for self liquidating projects.

"It is the policy of the Corporation to look favorably upon all applications regardless of the amount involved, if the projects meet the requirements of the Act as to eligibility, self liquidating character, soundness and sufficiency of security, and will create employment."

On behalf of the Corporation, Mr. Couch suggested that applicants who are not able immediately to furnish all the information required should forward their applications with such information as is available and untertake [sic] to furnish the additional data in due course. The information to be required of all applicants seeking loans for "self liquidating" projects was described in Circular #3 issued several weeks ago by the Corporation. This circular was given wide distribution several weeks ago and is available upon request at offices of the Corporation.

By the filing of all available information concerning a contemplated project, at least preliminary examination and tentative action may be taken, according to Mr. Couch.

"It has been called to our attention that some applicants have deferred filing applications because of the extensive requirements of Circular #3, Mr. Couch said. "The Directors of the Reconstruction Finance Corporation hope that applicants immediately will send such information as is available and accompany the application with an agreement to furnish the data not readily available in due course."