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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.
The Reconstruction Finance Corporation spent $1.5 billion in 1932, $1.8 billion in 1933, and $1.8 billion in 1934 before dropping to about $350 million a year. In August 1939, on the eve of World War II, it greatly expanded to build munitions factories. In 1941, it disbursed $1.8 billion.