{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5063.23","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5063.23","heading":"Borrower eligibility criteria","body":"To be eligible for the Beginning Agricultural Producer Pool\n\nprovided for in Section 695.24 of Title 62 of the Oklahoma Statutes,\n\na borrower must:\n\n1. Be a resident of Oklahoma;\n\n2. Be, or one of the borrowers must be, the principal operator\n\nof the farm;\n\n3. Have sufficient education, training or experience in the\n\ntype of farming for which the loan is desired;\n\n4. Have a total net worth, including total assets minus total\n\nliabilities of the borrower's spouse and dependents, of less than\n\nTwo Hundred Thousand Dollars ($200,000.00) in 1992 and an amount in\n\nsubsequent years determined by multiplying Two Hundred Thousand\n\nDollars ($200,000.00) by the cumulative inflation rate in years\n\nsubsequent to 1992 as determined by the United States All-Items\n\nConsumer Price Index;\n\n5. Demonstrate a need for the loan;\n\n6. Demonstrate an ability to repay the loan;\n\n7. Certify that the agricultural land to be purchased will be\n\nused by the borrower for agricultural purposes;\n\n8. Certify that farming will be the principal occupation of the\n\nborrower;\n\n9. Agree to participate in a farm management program approved\n\nby the Commissioner of Agriculture for at least the first five (5)\n\nyears of the loan, if an approved program is available within forty-\n\nfive (45) miles from the borrower's residence;\n\n10. Agree to file an approved soil and water conservation plan\n\nwith the soil conservation service office in the county where the\n\nland is located;\n\n11. Agree that the original principal amount of funding\n\npursuant to this act shall not exceed Two Hundred Fifty Thousand\n\nDollars ($250,000.00); and\n\n12. Meet such other requirements as deemed necessary by the\n\nOklahoma Development Finance Authority.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"7c685f006daaa1a490e44524ce7112b077f9b83ee7058ed996a49577c281b0a3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5063.22","next":"us-ok/okla.-stat.-tit.-74-74-5063.24"},"notice":"GroundRules: Original legal text. Not legal advice."}