Question

Congress established the Reconstruction Finance Corporation (RFC) to loan money to

Answer 1

Answer:

banks so they could lend money to businesses to stimulate economic activity

Explanation:

gradpoint :)

Answer 2

Reconstruction Finance Corporation was established in the year 1932 on 22nd of January.

Explanation:

The Reconstruction Finance Corporation was found in US , it is a government corporation.This corporation was made during the time of President Hoover. The main aim of the organisation was to provide loan to the people who required it. This loan was normally provided during the time of depression

This corporation mainly helped to the local as well as state government , provided loans to bank, various businesses, mortgage associations.

But Reconstruction Finance Corporation became a failed project because at the time of contraction period most of the banks had to stop their business activity as a result it ultimately failed.