President herbert hoover attempt to stimulate economic activity by providing federal loans to major businesses in 1931 and 1932 through "Reconstruction Finance Corporation".
The Reconstruction Finance Corporation (RFC) was refers to as government corporation in the United States between 1932 and 1957.
They provided financial support to state and local governments and made loans to banks, railroads, mortgage associations, and other businesses.
Moreover, the areas benefited from the RFC because they made loans at the state and local government level available to them.
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