Browse Arkansas Code titles and sections

7 U.S.C. § 1935 — Low-income farm ownership loan program; eligibility; repayment requirements

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1935 — Low-income farm ownership loan program; eligibility; repayment requirements

**(a)** The Secretary is authorized to make and insure loans for any of the purposes referred to in [section 1923(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1923/a&num=0&edition=prelim), or paragraphs (1) through (5) of [section 1924(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1924/a&num=0&edition=prelim), to farmers and ranchers in the United States who (1) are citizens of the United States, (2) meet the requirements of paragraphs (2) through (4) of [section 1922 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1922&num=0&edition=prelim), (3) are unable to obtain sufficient credit under [section 1922 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1922&num=0&edition=prelim) to finance their actual needs, (4) are owners or operators of small or family farms (including new owners or operators), (5) are farmers or ranchers with a low income, and (6) demonstrate a need to maximize their income from farming or ranching operations. The Secretary is also authorized to make such loans to any farm cooperative or private domestic corporation or partnership, or such other legal entities as the Secretary considers appropriate, that is controlled by farmers and ranchers and engaged primarily and directly in farming or ranching in the United States if all of its members, stockholders, partners, or owners, as applicable, are citizens of the United States and the entity and all such members, stockholders, partners, or owners meet the requirements of paragraphs (2) through (6) of the preceding sentence. **(b)** Each loan made or insured under this section shall be repayable in such installments as the Secr

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1935

Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.

Original supplied file — preserved unchanged

Download original Markdown file

File SHA-256: 604dd4c64a68af753fcd05577e33eddabfabfc373d18958c9351681e84e39d95. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.

Authority boundary: historical or unconfirmed source not current law verified.

Open the recorded source website ↗

Record provenance

Stable record: federal_law:legal_authorities:record_usc_ae0cbc9bf038cce99f9a6865
Source file: Laws/federal/codes/united-states-code/title-7/section-1935-low-income-farm-ownership-loan-program-eligibility-repayment-requirement--e16d85dea3.md
Pages: Not recorded – Not recorded
Passage SHA-256: 441d278f0a474ab143cb2b418a6c5df53e9ff8a4563ca9fcb4c0f4bdb034bade

Source location: Title 7, Chapter 50, § 1935; chapter-050-agricultural-credit.md

Stored source content

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1922 — Congressional findings

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

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1924 — Purposes of loans

**(a) Allowed purposes** (1) **Direct loans** — A farmer or rancher may use a direct loan made under this subchapter only for— (A) acquiring or enlarging a farm or ranch; (B) making capital improvements to a farm or ranch; (C) paying loan closing costs related to acquiring, enlarging, or improving a farm or ranch; (D) paying for activities to promote soil and water conservation and protection described in [section 1924 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1924&num=0&edition=prelim) on a farm or ranch; or (E) refinancing a temporary bridge loan made by a commercial or cooperative lender to a farmer or rancher for the acquisition of land for a farm or ranch, if— (i) the Secretary approved an application for a direct farm ownership loan to the farmer or rancher for acquisition of the land; and (ii) funds for direct farm ownership loans under [section 1994(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1994/b&num=0&edition=prelim) were not available at the time at which the application was approved. (2) **Guaranteed loans** — A farmer or rancher may use a loan guaranteed under this subchapter only for— (A) acquiring or enlarging a farm or ranch; (B) making capital improvements to a farm or ranch; (C) paying loan closing costs related to acquiring, enlarging, or improving a farm or ranch; (D) paying for activities to promote soil and water conservation and protection described in [section 1924 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1924&num=0&edition=prelim) on a farm or ranch; or (E) refinancing indebtedness. **(b) Preferences** In making or guaranteeing a loan under this subchapter f

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1924

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1926 — Limitations on amount of farm ownership loans

**(a) In general** The Secretary shall make or insure no loan under sections 1922, 1923, 1924, 1934, and 1935 of this title that would cause the unpaid indebtedness under such sections of any one borrower to exceed the smaller of (1) the value of the farm or other security, or (2) in the case of a loan other than a loan guaranteed by the Secretary, $600,000, or, in the case of a loan guaranteed by the Secretary, $1,750,000 (increased, beginning with fiscal year 2019, by the inflation percentage applicable to the fiscal year in which the loan is guaranteed and reduced by the amount of any unpaid indebtedness of the borrower on loans under subchapter II that are guaranteed by the Secretary). **(b) Determination of value** In determining the value of the farm, the Secretary shall consider appraisals made by competent appraisers under rules established by the Secretary. **(c) Inflation percentage** For purposes of this section, the inflation percentage applicable to a fiscal year is the percentage (if any) by which— (1) the average of the Prices Paid By Farmers Index (as compiled by the National Agricultural Statistics Service of the Department of Agriculture) for the 12-month period ending on July 31 of the immediately preceding fiscal year; exceeds (2) the average of such index (as so defined) for the 12-month period that immediately precedes the 12-month period described in paragraph (1).

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1926

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1929–1 — Agricultural Credit Insurance Fund

**(a) Revolving fund** The fund established pursuant to section 11(a) of the Bankhead-Jones Farm Tenant Act, as amended, shall hereafter be called the Agricultural Credit Insurance Fund and is hereinafter in this subchapter referred to as the “fund”. The fund shall remain available as a revolving fund for the discharge of the obligations of the Secretary under agreements insuring loans under this subchapter and loans and mortgages insured under prior authority. **(b) Deposits of funds; investments; purchase of notes** Moneys in the fund not needed for current operations shall be deposited in the Treasury of the United States to the credit of the fund or invested in direct obligations of the United States or obligations guaranteed by the United States. The Secretary may purchase with money in the fund any notes issued by the Secretary to the Secretary of the Treasury for the purpose of obtaining money for the fund. **(c) Notes; form and denominations; maturities; terms and conditions; interest rate; purchase by Treasury; public debt transaction** The Secretary is authorized to make and issue notes to the Secretary of the Treasury for the purpose of obtaining funds necessary for discharging obligations under this section and for authorized expenditures out of the fund. Such notes shall be in such form and denominations and have such maturities and be subject to such terms and conditions as may be prescribed by the Secretary with the approval of the Secretary of the Treasury. Such notes shall bear interest at a rate fixed by the Secretary of the Treasury, taking into consideration the current average market yield of outstanding marketable obligations of the United States having maturities comparable to the notes issued by the Secretary under this subchapter. The Secretar

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1929–1

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1992 — Definitions

**(a)** As used in this chapter: (1) The term “farmer” includes a person who is engaged in, or who, with assistance afforded under this chapter, intends to engage in, fish farming. (2) The term “farming” shall be deemed to include fish farming. (3) The term “owner-operator” shall include in the State of Hawaii the lessee-operator of real property in any case in which the Secretary determines that such real property cannot be acquired in fee simple by such lessee-operator, that adequate security is provided for the loan with respect to such real property for which such lessee-operator applies under this chapter, and that there is a reasonable probability of accomplishing the objectives and repayment of such loan. (4) The word “insure” as used in this chapter includes guarantee, which means to guarantee the payment of a loan originated, held, and serviced by a private financial agency or other lender approved by the Secretary. (5) The term “contract of insurance” includes a contract of guarantee. (6) The terms “United States” and “State” shall include each of the several States, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and, to the extent the Secretary determines it to be feasible and appropriate, the Trust Territory of the Pacific Islands. (7) The term “joint operation” means a joint farming operation in which two or more farmers work together sharing equally or unequally land, labor, equipment, expenses, and income. (8) The term “beginning farmer or rancher” means such term as defined by the Secretary. (9) The term “direct loan” means a loan made or insured from funds in the account created by [section 1929 of this title](https://uscode.house.gov/view.xhtml?r

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1992

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1995 — Maximum amounts for loans authorized; long-term cost projections

**(a) Maximum aggregate principal amounts for loans authorized** Effective October 1, 1979, the aggregate principal amount of loans under the programs authorized under each subchapter of this chapter during each three-year period thereafter shall not exceed such amounts as may be authorized by law after August 4, 1978. There shall be two amounts so established for each of such programs and for any maximum levels provided in appropriation Acts for the programs authorized under this chapter, one against which direct and insured loans shall be charged and the other against which guaranteed loans shall be charged. **(b) Authorization for loans** (1) **In general** — The Secretary may make or guarantee loans under subchapters I and II from the Agricultural Credit Insurance Fund provided for in [section 1929 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1929&num=0&edition=prelim) for not more than $10,000,000,000 for each of fiscal years 2019 through 2023, of which, for each fiscal year— (A) $3,000,000,000 shall be for direct loans, of which— (i) $1,500,000,000 shall be for farm ownership loans under subchapter I; and (ii) $1,500,000,000 shall be for operating loans under subchapter II; and (B) $7,000,000,000 shall be for guaranteed loans, of which— (i) $3,500,000,000 shall be for farm ownership loans under subchapter I; and (ii) $3,500,000,000 shall be for operating loans under subchapter II. (2) **Beginning farmers and ranchers** (A) *Direct loans* (i) *Farm ownership loans* (I) *In general* — Of the amounts made available under paragraph (1) for direct farm ownership loans, the Secretary shall reserve an amount that is not less than 75 percent of the total amount for qualified beginning

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1995

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1935 — Down payment loan program

Page 1100 TITLE 7—AGRICULTURE § 1934 the Housing Act of 1949 [42 U.S.C. 1487(a)(2)], (2) are made by other lenders approved by the Sec- retary to provide dwellings in rural areas for the applicants’ own use, and (3) bear interest and other charges at rates not above the maximum rates prescribed by the Secretary of Housing and Urban Development for loans made by private lenders for similar purposes and guaranteed by the Secretary of Housing and Urban Develop- ment under the National Housing Act [12 U.S.C. 1701 et seq.] or superseding legislation shall not be subject to sections 501(c) and 502(b)(3) of the Housing Act of 1949 [42 U.S.C. 1471(c) and 1472(b)(3)]. (b) For the purposes of title V of the Housing Act of 1949 [42 U.S.C. 1471 et seq.] or this chap- ter, a guarantee of payment given under the color of law by the Department of Hawaiian Home Lands (or its successor in function) shall be found by the Secretary reasonably to assure repayment of any indebtedness so guaranteed. (Pub. L. 87–128, title III, § 310C, as added Pub. L. 92–419, title I, § 119, Aug. 30, 1972, 86 Stat. 664; amended Pub. L. 101–624, title XVIII, § 1804, Nov. 28, 1990, 104 Stat. 3819.) Editorial Notes REFERENCES IN TEXT Section 517(a) of the Housing Act of 1949 [42 U.S.C. 1487(a)], referred to in subsec. (a), was amended by Pub. L. 98–181, title I [title V, § 514(a)(1)], Nov. 30, 1983, 98 Stat. 1247, and, as so amended, does not contain a par. (2). The National Housing Act, referred to in subsec. (a), is act June 27, 1934, ch. 847, 48 Stat. 1246, which is classi- fied principally to chapter 13 (§ 1701 et seq.) of Title 12, Banks and Banking. For complete classification of this Act to the Code, see References in Text note set out under section 1701 of Title 12 and Ta

Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 1935

Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.