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7 U.S.C. § 2006c — Loan assessments
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary shall evaluate, in accordance with regulations issued by the Secretary, the farming plan and financial situation of each qualified farmer or rancher applicant.
**(b) Determinations** In evaluating the farming plan and financial situation of an applicant under this section, the Secretary shall determine—
(1) the amount that the applicant will need to borrow to carry out the proposed farming plan;
(2) the rate of interest that the applicant would need to be able to cover expenses and build an adequate equity base;
(3) the goals of the proposed farming plan of the applicant;
(4) the financial viability of the plan and any changes that are necessary to make the plan viable; and
(5) whether assistance is necessary under this chapter and, if so, the amount of the assistance.
**(c) Contract** The Secretary may contract with a third party (including those entities eligible to provide borrower training under [section 2006a(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006a/b&num=0&edition=prelim)) to conduct loan assessments under this section.
**(d) Review of loans**
(1) **In general** — Loan assessments conducted under this section shall include annual review of direct loans, and periodic review (as determined necessary by the Secretary) of guaranteed loans, made under this chapter to assess the progress 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006a/b&num=0&edition=prelim) to conduct loan reviews under paragraph (1).
(3) **Problem assessment
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Source location: Title 7, Chapter 50, § 2006c; chapter-050-agricultural-credit.md
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**(a) In general** The Secretary shall evaluate, in accordance with regulations issued by the Secretary, the farming plan and financial situation of each qualified farmer or rancher applicant.
**(b) Determinations** In evaluating the farming plan and financial situation of an applicant under this section, the Secretary shall determine—
(1) the amount that the applicant will need to borrow to carry out the proposed farming plan;
(2) the rate of interest that the applicant would need to be able to cover expenses and build an adequate equity base;
(3) the goals of the proposed farming plan of the applicant;
(4) the financial viability of the plan and any changes that are necessary to make the plan viable; and
(5) whether assistance is necessary under this chapter and, if so, the amount of the assistance.
**(c) Contract** The Secretary may contract with a third party (including those entities eligible to provide borrower training under [section 2006a(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006a/b&num=0&edition=prelim)) to conduct loan assessments under this section.
**(d) Review of loans**
(1) **In general** — Loan assessments conducted under this section shall include annual review of direct loans, and periodic review (as determined necessary by the Secretary) of guaranteed loans, made under this chapter to assess the progress 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006a/b&num=0&edition=prelim) 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 entity shall determine the cause of, and action necessary to correct, the delinquency.
**(e) Guidelines** The Secretary shall issue regulations providing guidelines for loan assessments conducted under this section.
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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).
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Federal law — U.S. Code and appendices · legal_authorities
In the administration of this chapter, the Secretary shall, to the extent practicable, use underwriting forms, standards, practices, and terminology similar to the forms, standards, practices, and terminology used by lenders in the private sector.
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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.
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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
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