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7 U.S.C. § 1965 — Terms of loans
Federal law — U.S. Code and appendices · legal_authorities
**(a) Maximum amount of loan** The Secretary may not make a loan under this subchapter to a borrower who has suffered a loss in an amount that—
(1) exceeds the actual loss caused by a disaster; or
(2) would cause the total indebtedness of the borrower under this subchapter to exceed $500,000.
**(b) Interest rates** Loans under this subchapter shall be at rates of interest as follows:
(1) For loans or portions of loans up to the amount of the applicant’s actual loss caused by the disaster, as limited under subsection (a)(1) of this section, the interest shall be at rates prescribed by the Secretary, but not in excess of 8 percent per annum; and
(2) For loans or portions of loans in excess of the amount of the applicant’s actual loss caused by the disaster, as limited under subsection (a)(1) of this section, (A) the interest for insured loans shall be at rates prevailing in the private market for similar loans, as determined by the Secretary, and (B) the interest for guaranteed loans shall be at rates agreed on by the borrower and lender, but not in excess of such rates as may be determined by the Secretary.
**(c) Interest subsidies** For guaranteed loans under this subchapter, the Secretary may pay interest subsidies to the lenders for those portions of the loans up to the amount of the actual loss caused by the disaster, as limited under subsection (a)(1) of this section. Any such subsidy shall not exceed the difference between the interest rate being charged for loans up to the amount of the actual loss, as established under subsection (b)(1) of this section, and the maximum interest rate for guaranteed loans, as established under subsection (b)(2) of this section.
**(d) Repayment**
(1) **In general** — All loans under this subchapter shall be repayable at such
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Source location: Title 7, Chapter 50, § 1965; chapter-050-agricultural-credit.md
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**(a) Maximum amount of loan** The Secretary may not make a loan under this subchapter to a borrower who has suffered a loss in an amount that—
(1) exceeds the actual loss caused by a disaster; or
(2) would cause the total indebtedness of the borrower under this subchapter to exceed $500,000.
**(b) Interest rates** Loans under this subchapter shall be at rates of interest as follows:
(1) For loans or portions of loans up to the amount of the applicant’s actual loss caused by the disaster, as limited under subsection (a)(1) of this section, the interest shall be at rates prescribed by the Secretary, but not in excess of 8 percent per annum; and
(2) For loans or portions of loans in excess of the amount of the applicant’s actual loss caused by the disaster, as limited under subsection (a)(1) of this section, (A) the interest for insured loans shall be at rates prevailing in the private market for similar loans, as determined by the Secretary, and (B) the interest for guaranteed loans shall be at rates agreed on by the borrower and lender, but not in excess of such rates as may be determined by the Secretary.
**(c) Interest subsidies** For guaranteed loans under this subchapter, the Secretary may pay interest subsidies to the lenders for those portions of the loans up to the amount of the actual loss caused by the disaster, as limited under subsection (a)(1) of this section. Any such subsidy shall not exceed the difference between the interest rate being charged for loans up to the amount of the actual loss, as established under subsection (b)(1) of this section, and the maximum interest rate for guaranteed loans, as established under subsection (b)(2) of this section.
**(d) Repayment**
(1) **In general** — All loans under this subchapter shall be repayable at such times as the Secretary may determine, taking into account the purposes of the loan and the nature and effect of the disaster, but not later than as provided for loans for similar purposes under subchapters I and II of this chapter, and upon the full personal liability of the borrower and upon the best security available, as the Secretary may prescribe: Provided, That the security is adequate to assure repayment of the loans, except that if such security is not available because of the disaster, the Secretary shall (1) accept as security such collateral as is available, a portion or all of which may have depreciated in value due to the disaster and which in the opinion of the Secretary, together with the Secretary’s confidence in the repayment ability of the applicant, is adequate security for the loan, and (2) make such loan repayable at such times as the Secretary may determine, not later than as provided under subchapters I and II of this chapter, as justified by the needs of the applicant: Provided further, That for any disaster occurring after January 1, 1975, the Secretary, if the loan is for a purpose described in subchapter II of this chapter, may make the loan repayable at the end of a period of more than seven years, but not more than twenty years, if the Secretary determines that the need of the loan applicant justifies such a longer repayment period: Provided further, That for any direct or insured loan (other than a guaranteed loan) approved under [section 1961(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1961/b&num=0&edition=prelim), three years after the loan is made or insured, and every two years thereafter for the term of the loan, the Secretary shall review the loan; and if, based on such review, the Secretary determines that the borrower is able to obtain a loan from non-Federal sources at reasonable rates and terms for loans for similar purposes and periods of time, the borrower shall on request by the Secretary, apply for and accept such non-Federal loan in sufficient amount to repay the Secretary. If farm assets (including land, livestock, and equipment) are used as collateral to secure a loan made under this subchapter, the Secretary shall establish the value of the assets as of the day before the occurrence of the natural disaster, major disaster, or emergency that is the basis for a request for assistance under this subchapter or the Robert T. Stafford Disaster Relief and Emergency Assistance Act ([42 U.S.C. 5121](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section5121&num=0&edition=prelim) et seq.).
(2) **No basis for denial of loan**
(A) *In general* — Subject to subparagraph (B), the Secretary shall not deny a loan under this subchapter to a borrower by reason of the fact that the borrower lacks a particular amount of collateral for the loan if the Secretary is reasonably certain that the borrower will be able to repay the loan.
(B) *Refusal to pledge available collateral* — The Secretary may deny or cancel a loan under this subchapter if a borrower refuses to pledge available collateral on request by the Secretary.
**(e) Grant eligibility** Any political subdivision of a State with a population of less than ten thousand inhabitants that, if such subdivision had a population of ten thousand or more inhabitants, would be eligible for a grant under the first title of the Community Emergency Drought Relief Act of 1977 shall be eligible for a grant under this chapter during any period in which the Community Emergency Drought Relief Act of 1977 is or has been in effect.
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Federal law — U.S. Code and appendices · legal_authorities
The Congress finds that the statutory authority of the Secretary of Agriculture, hereinafter referred to in this chapter as the “Secretary,” for making and insuring loans to farmers and ranchers should be revised and consolidated to provide for more effective credit services to farmers.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1922
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Congress hereby finds and declares that—
(1) because disasters often cause loss of life, human suffering, loss of income, and property loss and damage; and
(2) because disasters often disrupt the normal functioning of governments and communities, and adversely affect individuals and families with great severity;
special measures, designed to assist the efforts of the affected States in expediting the rendering of aid, assistance, and emergency services, and the reconstruction and rehabilitation of devastated areas, are necessary.
**(b)** It is the intent of the Congress, by this chapter, to provide an orderly and continuing means of assistance by the Federal Government to State and local governments in carrying out their responsibilities to alleviate the suffering and damage which result from such disasters by—
(1) revising and broadening the scope of existing disaster relief programs;
(2) encouraging the development of comprehensive disaster preparedness and assistance plans, programs, capabilities, and organizations by the States and by local governments;
(3) achieving greater coordination and responsiveness of disaster preparedness and relief programs;
(4) encouraging individuals, States, and local governments to protect themselves by obtaining insurance coverage to supplement or replace governmental assistance;
(5) encouraging hazard mitigation measures to reduce losses from disasters, including development of land use and construction regulations;
(6) providing Federal assistance programs for both public and private losses sustained in disasters; and
(7) identifying and improving the climate and natural hazard resilience of vulnerable communities.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 5121
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 2009ee, Pub. L. 107–171, title VI, § 6301, May 13, 2002, 116 Stat. 421, defined terms.
Section 2009ee–1, Pub. L. 107–171, title VI, § 6302, May 13, 2002, 116 Stat. 422, related to SEARCH grant program. See [section 1926 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1926&num=0&edition=prelim).
Section 2009ee–2, Pub. L. 107–171, title VI, § 6303, May 13, 2002, 116 Stat. 424, related to annual report on projects.
Section 2009ee–3, Pub. L. 107–171, title VI, § 6304, May 13, 2002, 116 Stat. 424, related to funding.
#### Codification
Pub. L. 110–234 and Pub. L. 110–246 repealed this subchapter. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.
#### Effective Date of Repeal
Repeal of this subchapter and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as an Effective Date note under [section 8701 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8701&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1921
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Aid, counsel, assistance, etc., to small business concerns** The essence of the American economic system of private enterprise is free competition. Only through full and free competition can free markets, free entry into business, and opportunities for the expression and growth of personal initiative and individual judgment be assured. The preservation and expansion of such competition is basic not only to the economic well-being but to the security of this Nation. Such security and well-being cannot be realized unless the actual and potential capacity of small business is encouraged and developed. It is the declared policy of the Congress that the Government should aid, counsel, assist, and protect, insofar as is possible, the interests of small-business concerns in order to preserve free competitive enterprise, to insure that a fair proportion of the total purchases and contracts or subcontracts for property and services for the Government (including but not limited to contracts or subcontracts for maintenance, repair, and construction) be placed with small-business enterprises, to insure that a fair proportion of the total sales of Government property be made to such enterprises, and to maintain and strengthen the overall economy of the Nation.
**(b) Assistance to compete in international markets**
(1) It is the declared policy of the Congress that the Federal Government, through the Administrator of the Small Business Administration, acting through the Associate Administrator for International Trade, and in cooperation with the Department of Commerce and other relevant State and Federal agencies, should aid and assist small businesses, as defined under this chapter, to increase their ability to compete in international markets by—
(A) enhancing their abil
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 631
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The President is authorized to make loans to any local government which may suffer a substantial loss of tax and other revenues as a result of a major disaster, and has demonstrated a need for financial assistance in order to perform its governmental functions.
**(b) Amount** The amount of any such loan shall be based on need, shall not exceed—
(1) 25 percent of the annual operating budget of that local government for the fiscal year in which the major disaster occurs, and shall not exceed $5,000,000; or
(2) if the loss of tax and other revenues of the local government as a result of the major disaster is at least 75 percent of the annual operating budget of that local government for the fiscal year in which the major disaster occurs, 50 percent of the annual operating budget of that local government for the fiscal year in which the major disaster occurs, and shall not exceed $5,000,000.
**(c) Repayment**
(1) **Cancellation** — Repayment of all or any part of such loan to the extent that revenues of the local government during the three full fiscal year period following the major disaster are insufficient to meet the operating budget of the local government, including additional disaster-related expenses of a municipal operation character shall be cancelled.
(2) **Condition on continuing eligibility** — A local government shall not be eligible for further assistance under this section during any period in which the local government is in arrears with respect to a required repayment of a loan under this section.
**(d) Effect on other assistance** Any loans made under this section shall not reduce or otherwise affect any grants or other assistance under this chapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 5184
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary shall establish a plan, in coordination with activities under sections 2006a, 2006b, 2006c, and 2006d of this title, to encourage each borrower with an outstanding loan under this subchapter or with respect to whom there is an outstanding guarantee under this subchapter to graduate to private commercial or other sources of credit.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1961
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Loans to small business concerns; allowable purposes; qualified business; restrictions and limitations** The Administration is empowered to the extent and in such amounts as provided in advance in appropriation Acts to make loans for plant acquisition, construction, conversion, or expansion, including the acquisition of land, material, supplies, equipment, and working capital, and to make loans to any qualified small business concern, including those owned by qualified Indian tribes, for purposes of this chapter. Such financings may be made either directly or in cooperation with banks or other financial institutions through agreements to participate on an immediate or deferred (guaranteed) basis. These powers shall be subject, however, to the following restrictions, limitations, and provisions:
(1) **In general.—**
(A) *Credit elsewhere.—*
(i) *In general.—* — The Administrator has the authority to direct, and conduct oversight for, the methods by which lenders determine whether a borrower is able to obtain credit elsewhere. No financial assistance shall be extended pursuant to this subsection if the applicant can obtain credit elsewhere. No immediate participation may be purchased unless it is shown that a deferred participation is not available; and no direct financing may be made unless it is shown that a participation is not available.
(ii) *Liquidity.—* — On and after October 1, 2015, the Administrator may not guarantee a loan under this subsection if the lender determines that the borrower is unable to obtain credit elsewhere solely because the liquidity of the lender depends upon the guaranteed portion of the loan being sold on the secondary market.
(B) *Background checks.—* — Prior to the approval of any loan made pursuant to this subsecti
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 636
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Federal law — U.S. Code and appendices · legal_authorities
Page 6354
TITLE 42—THE PUBLIC HEALTH AND WELFARE
§ 5121
Sec.
5165g.
National veterinary emergency teams.
SUBCHAPTER IV—MAJOR DISASTER ASSISTANCE
PROGRAMS
5170.
Procedure for declaration.
5170a.
General Federal assistance.
5170b.
Essential assistance.
5170c.
Hazard mitigation.
5171.
Federal facilities.
5172.
Repair, restoration, and replacement of dam-
aged facilities.
5173.
Debris removal.
5174.
Federal assistance to individuals and house-
holds.
5174a.
Flexibility.
5174b.
Critical document fee waiver.
5175, 5176. Repealed.
5177.
Unemployment assistance.
5177a.
Emergency grants to assist low-income mi-
grant and seasonal farmworkers.
5178.
Repealed.
5179.
Benefits and distribution.
5180.
Food commodities.
5181.
Relocation assistance.
5182.
Legal services.
5183.
Crisis counseling assistance and training.
5184.
Community disaster loans.
5185.
Emergency communications.
5186.
Emergency public transportation.
5187.
Fire management assistance.
5188.
Timber sale contracts.
5189.
Simplified procedure.
5189a.
Appeals of assistance decisions.
5189b.
Date of eligibility; expenses incurred before
date of disaster.
5189c.
Transportation assistance to individuals and
households.
5189d.
Case management services.
5189e.
Essential service providers.
5189f.
Public assistance program alternative proce-
dures.
5189g.
Unified Federal review.
5189h.
Agency accountability.
SUBCHAPTER IV–A—EMERGENCY ASSISTANCE
PROGRAMS
5191.
Procedure for declaration.
5192.
Federal emergency assistance.
5193.
Amount of assistance.
SUBCHAPTER IV–B—EMERGENCY PREPAREDNESS
5195.
Declaration of policy.
5195a.
Definitions.
5195b.
Administration of subchapter.
5195c.
Critical infrastructures protection.
PART A—POWERS AND DUTIES
Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 5121
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Federal law — U.S. Code and appendices · legal_authorities
Page 1120
TITLE 7—AGRICULTURE
§ 1965
1 See References in Text note below.
1977—Subsec. (a). Pub. L. 95–89 designated existing
provisions as subsec. (a) and struck out last proviso
prescribing for any loan made by the Small Business
Administration in connection with a disaster occurring
on or after Aug. 5, 1975, under section 636(b)(1), (2), or
(4) of title 15 a rate of interest determined in the first
paragraph following section 636(b)(8) of title 15 for loans
under paragraphs (3), (5), (6), (7), or (8) of section 636(b)
of title 15, now covered in subsec. (b) of this section.
Subsecs. (b), (c). Pub. L. 95–89 added subsecs. (b) and
(c).
1975—Pub. L. 94–68 made the existing rate of 5 percent
applicable to loans up to the amount of the actual loss
caused by the disaster, inserted provisions that for
loans or portions of loans in excess of that amount the
interest rate will be that prevailing in the private mar-
ket for similar loans, as determined by the Secretary,
and inserted provisos relating to security, disasters oc-
curring after Jan. 1, 1975, and loans made by Small
Business Administration.
1973—Pub. L. 93–24 substituted ‘‘5’’ for ‘‘3’’ per cen-
tum.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1996 AMENDMENT
Amendment by section 624 of Pub. L. 104–127 effective
Apr. 4, 1996, and amendment by section 625 of Pub. L.
104–127 effective 90 days after Apr. 4, 1996, see section
663(a), (b) of Pub. L. 104–127, set out as a note under sec-
tion 1922 of this title.
EFFECTIVE DATE OF 1984 AMENDMENT
Amendment by Pub. L. 98–258 applicable to disasters
occurring after May 30, 1983, see section 602(c) of Pub.
L. 98–258, set out as a note under section 1961 of this
title.
EFFECTIVE DATE OF 1981 AMENDMENT
Section 162(b) of Pub. L. 97–35
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 1965
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