Farm assessment.

CFR · 2024-01-01 · US · Title 7

(a) The Agency, in collaboration with the applicant, will assess the farming operation to: (1) Determine the applicant's financial condition, organizational structure, and management strengths and weaknesses; (2) Identify and prioritize training and progression lending needs; and (3) Develop a progressive lending plan to assist the borrower in achieving financial viability and transitioning to private commercial credit or other sources of credit in the shortest time practicable, except for CL. (b) Except for ML, the initial assessment must evaluate, at a minimum, the: (1) Farm organization and key personnel qualifications; (2) Type of farming operation; (3) Goals for the operation; (4) Adequacy of real estate, including facilities, to conduct the farming operation; (5) Adequacy of chattel property used to conduct the farming operation; (6) Historical performance, except for streamlined CL; (7) Farm operating plan; (8) Progression lending plan, except for streamlined CL; (9) Training plan; and (10) Graduation plan, except for CL. (c) For ML, the Agency will complete a narrative that will evaluate, at a minimum, the: (1) Type of farming operation and adequacy of resources; (2) Amount of assistance necessary to cover expenses to carry out the proposed farm operating plan, including building an adequate equity base; (3) The goals of the operation; (4) The financial viability of the entire operation, including a marketing plan, and available production history, as applicable; (5)

official document · source cfr-2024 · id 7:§ 761.103