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Rolnictwo i finanse · 24.05.2001

Eligibility and Scope of Financing

The Farm Credit Administration (FCA) through the FCA Board (Board) issues a final rule amending two regulations that govern eligibility and scope of financing for farm-related service businesses and non-farm rural homeowners. The amended rule implements the decision that the United States Court of Appeals for the District of Columbia issued on January 19, 1999. As a result of these amendments, Farm Credit System (FCS or System) banks and associations that extend long- term mortgage credit will be able to finance only necessary capital structures, equipment and initial working capital for eligible farm- related service businesses. Additionally, the revised rule allows System banks and associations to finance only homes that people who live in rural areas own and occupy as their principal residences.

Source: Federal Register — Farm Credit AdministrationOpen original release →