§ 138a.4. Permissible uses of loan proceeds and maximum terms of loans.
Loan proceeds which are guaranteed by the Department or have received an interest deferral shall be used for the following eligible agricultural purposes:
(1) Acquisition, construction or rehabilitation of farmland and farm structures located on farmland within this Commonwealth owned or leased by a family farm enterprise. The term of the loan may not exceed 20 years.
(2) Acquisition, repair or replacement of capital assets, such as equipment and livestock to be used on farmland within this Commonwealth by a family farm enterprise. The term of the loan may not exceed 7 years.
(3) Working capital for the acquisition of fertilizer, seed, livestock feed and other supplies which will be used on farmland within this Commonwealth by a family farm enterprise. The term of the loan may not exceed 1 year.
Cross References This section cited in 7 Pa. Code § 138a.6 (relating to condition of loan guarantees); and 7 Pa. Code § 138a.7 (relating to conditions on interest deferrals).
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.
