Interest rate, terms and security requirements.

CFR · 2024-01-01 · US · Title 7

(a) (2) Thereafter interest will begin to accrue at the regular rate for an Agency Farm operating-direct loan (available in any Agency office). (b) (2) However, any principal remaining thereafter will be amortized over a term of 7 years at the Farm operating- (c) (2) If the applicant has seed remaining in their possession that was produced under contract to AgriBiotech, the applicant also will provide the Agency with a first lien position on this seed. It is the responsibility of the applicant to negotiate with any existing lienholders to secure the Agency's first lien position.

official document · source cfr-2024 · id 7:§ 774.18