farm-program · Farm Service Agency · Rule · Published 2013-01-17 · Effective 2013-01-17 · 78 FR 3828
Document
Document number
2013-00672
Federal Register citation
78 FR 3828
CFR reference
7 CFR 761
Type
Rule
Action
Final rule.
Category
farm-program
Sub-agency
Farm Service Agency
Publication date
2013-01-17
Effective date
2013-01-17
Abstract
The Farm Service Agency (FSA) is modifying Operating Loan (OL) application, eligibility, and security requirements for Microloans (ML) to better serve the unique operating needs of small family farm operations. The intended effect of this rule is to make the OL Program more widely available and attractive to small operators through reduced application requirements, more timely application processing, and added flexibility in meeting the managerial ability eligibility requirement. FSA is also removing provisions for the low documentation (Lo-Doc) application process for OLs from the existing direct loan regulations.