GroundRules
7 CFR 4280.25: Revolving Loan Fund Plan.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER XLII—RURAL BUSINESS-COOPERATIVE SERVICE, DEPARTMENT OF AGRICULTURE
- PART 4280—LOANS AND GRANTS
- Subpart A—Rural Economic Development Loan and Grant Programs
Each REDG Intermediary must adopt a Rural Development-approved plan that specifies that:
(a) The initial loan made from the Fund will be at zero percent interest and have a maximum term of 10 years;
(b) Loans made from loan repayments may carry an interest rate less than, or equal to, the prevailing prime rate. The Intermediary determines repayment terms and security arrangements on these loans.
(c) Loans made from repayments of REDG loans must be for eligible Program purposes;
(d) The Intermediary is solely responsible for the financial approval of Fund loans and all other Fund decisions and actions; and
(e) No changes will be made to a Rural Development-approved Revolving Loan Fund Plan without the prior written approval of Rural Development.
Collected 2026-08-27T02:24:01Z. Source file · JSON