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7 U.S.C. § 2006d — Supervised credit
Federal law — U.S. Code and appendices · legal_authorities
The Secretary shall provide adequate training to employees of the Farmers Home Administration on credit analysis and financial and farm management to—
(1) better acquaint the employees with what constitutes adequate financial data on which to base a direct or guaranteed loan approval decision; and
(2) ensure proper supervision of farmer program loans.
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Source file: Laws/federal/codes/united-states-code/title-7/section-2006d-supervised-credit--1d203bbac9.md
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Source location: Title 7, Chapter 50, § 2006d; chapter-050-agricultural-credit.md
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The Secretary shall provide adequate training to employees of the Farmers Home Administration on credit analysis and financial and farm management to—
(1) better acquaint the employees with what constitutes adequate financial data on which to base a direct or guaranteed loan approval decision; and
(2) ensure proper supervision of farmer program loans.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Applications; time for action by Secretary; notice; statement of reasons**
(1) The Secretary shall approve or disapprove an application for a loan or loan guarantee made under this chapter, and notify the applicant of such action, not later than 60 days after the Secretary has received a complete application for such loan or loan guarantee.
(2)
(A) If an application for a loan or loan guarantee under this chapter (other than under subchapter II) is incomplete, the Secretary shall inform the applicant of the reasons such application is incomplete not later than 20 days after the Secretary has received such application.
(B)
(i) Not later than 10 calendar days after the Secretary receives an application for an operating loan or loan guarantee under subchapter II, the Secretary shall notify the applicant of any information required before a decision may be made on the application. On receipt of an application, the Secretary shall request from other parties such information as may be needed in connection with the application.
(ii) Not later than 15 calendar days after the date an agency of the Department of Agriculture receives a request for information made pursuant to clause (i), the agency shall provide the Secretary with the requested information.
(iii) If, not later than 20 calendar days after the date a request is made pursuant to clause (i) with respect to an application, the Secretary has not received the information requested, the Secretary shall notify the applicant and the district office of the Farmers Home Administration, in writing, of the outstanding information.
(iv) A county office shall notify the district office of the Farmers Home Administration of each application for an operating loan or loan guarantee under subchapter
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1983b
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In making or insuring a farm loan under subchapter I or II, the Secretary shall establish a plan and promulgate regulations (including performance criteria) that promote the goal of transitioning borrowers to private commercial credit and other sources of credit in the shortest period of time practicable.
**(b) Coordination** In carrying out this section, the Secretary shall integrate and coordinate the transition policy described in subsection (a) with—
(1) the borrower training program established by [section 2006a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006a&num=0&edition=prelim);
(2) the loan assessment process established by [section 2006b of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006b&num=0&edition=prelim);
(3) the supervised credit requirement established by [section 2006c of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006c&num=0&edition=prelim);
(4) the market placement program established by [section 2006d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006d&num=0&edition=prelim); and
(5) other appropriate programs and authorities, as determined by the Secretary.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1994
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Federal law — U.S. Code and appendices · legal_authorities
Page 1174
TITLE 7—AGRICULTURE
§ 2006c
1 See References in Text note below.
of a borrower in meeting the goals for the
farm or ranch operation.
(2) Contracts
The Secretary may contract with an entity
that is eligible to provide borrower training
under section 2006a(b) of this title to conduct
loan reviews under paragraph (1).
(3) Problem assessments
If a borrower is delinquent in payments on a
direct or guaranteed loan made under this
chapter, the Secretary or the contracting enti-
ty shall determine the cause of, and action
necessary to correct, the delinquency.
(e) Guidelines
The Secretary shall issue regulations pro-
viding guidelines for loan assessments con-
ducted under this section.
(Pub. L. 87–128, title III, § 360, as added Pub. L.
101–624, title XVIII, § 1819, Nov. 28, 1990, 104 Stat.
3830; amended Pub. L. 107–171, title V, §§ 5317,
5318, May 13, 2002, 116 Stat. 348.)
Editorial Notes
REFERENCES IN TEXT
This chapter, referred to in subsecs. (a), (b)(5), and
(d)(1), (3), was in the original ‘‘this title’’, meaning title
III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as
the Consolidated Farm and Rural Development Act,
which is classified principally to this chapter. For com-
plete classification of title III to the Code, see Short
Title note set out under section 1921 of this title and
Tables.
AMENDMENTS
2002—Subsec. (a). Pub. L. 107–171, § 5317, substituted
‘‘The Secretary’’ for ‘‘After an applicant is determined
eligible for assistance under this chapter by the appro-
priate county committee established pursuant to sec-
tion 1982 of this title, the Secretary’’.
Subsec. (d)(1). Pub. L. 107–171, § 5318, substituted ‘‘an-
nual review’’ for ‘‘biannual review’’.
§ 2006c. Supervised credit
The Secretary shall provide adequat
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 2006d
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.