7 CFR 1710.603 - Sequence of advances.

Regulations last checked for updates: Oct 20, 2024

Title 7 - Agriculture last revised: Oct 11, 2024

View all text of Subpart J [§ 1710.601 - § 1710.605]

§ 1710.603 - Sequence of advances.

(a) Except as set forth in paragraph (b) of this section, concurrent loan funds will be advanced in the following order:

(1) Fifty (50) percent of the RUS insured loan funds.

(2) One hundred (100) percent of the supplemental loan funds.

(3) The remaining amount of the RUS insured loan funds.

(b) At the borrower's request and with RUS approval, all or part of the supplemental loan funds may be advanced before funds in paragraph (a)(1) of this section.

authority: 7 U.S.C. 901

source: 57 FR 1053, Jan. 9, 1992, unless otherwise noted.

cite as: 7 CFR 1710.603