7 U.S. Code § 2006b - Loan assessments
(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.
In evaluating the farming plan and financial situation of an applicant under this section, the Secretary shall determine—
(2) the rate of interest that the applicant would need to be able to cover expenses and build an adequate equity base;
(4) the financial viability of the plan and any changes that are necessary to make the plan viable; and
(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.
Source(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.)
References in Text
For definition of “this chapter”, referred to in subsecs. (a), (b)(5), and (d)(1), (3), see note set out under section 1921 of this title.
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 appropriate county committee established pursuant to section 1982 of this title, the Secretary”.
Subsec. (d)(1). Pub. L. 107–171, § 5318, substituted “annual review” for “biannual review”.