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Reconstruction Finance Corporation (RFC), former U.S. government agency, created in 1932 by the administration of Herbert Hoover. Its purpose was to facilitate economic activity by lending money in the depression.
A main reason why loans were given out was to relieve the depositors to get their money back. The Reconstruction Finance Corporation spent $1.5 billion in 1932, $1.8 billion in 1933, and $1.8 billion in 1934. Then it dropped to about $350 million a year. On the eve of World War II (August 31, 1939), it greatly expanded to build munitions factories, disbursing $1.8 billion in 1941.