Emergency loan uses.

CFR · 2024-01-01 · US · Title 7

(a) (i) For any FO purpose, as specified in § 764.151, except subparagraph (e) of that section; (ii) To establish a new site for farm dwelling and service buildings outside of a flood or mudslide area; and (iii) To replace land from the farm that was sold or conveyed, if such land is necessary for the farming operation to be effective. (2) (i) Purchase livestock, farm equipment, quotas and bases, and cooperative stock for credit, production, processing, or marketing purposes; (ii) Pay customary costs associated with obtaining and closing a loan that an applicant cannot pay from other sources (e.g., fees for legal, architectural, and other technical services, but (iii) Repair or replace household contents damaged in the disaster; (iv) Pay the costs to restore perennials, which produce an agricultural commodity, to the stage of development the damaged perennials had obtained prior to the disaster; (v) Pay essential family living and farm operating expenses, in the case of an operation that has suffered livestock losses not from breeding stock, or losses to stored crops held for sale; and (vi) Refinance farm-related debts other than real estate to improve farm profitability, if the applicant has refinanced direct or guaranteed loans four times or fewer and one of the following conditions is met: (A) A designated or declared disaster caused the need for refinancing; or (B) The debts to be refinanced are owed to a creditor other than the USDA. (b) (1) Pay costs associated with reo

official document · source cfr-2024 · id 7:§ 764.351