7 CFR 1436.10 - Down payment.

§ 1436.10 Down payment.
(a) A minimum down payment representing the difference between the net cost of the storage facility and the amount of the loan determined in accordance with§ 1436.9 will be made by the loan applicant to the supplier or contractor before either the partial or final loan disbursements.
(b) The down payment must be in cash unless some other form of payment is approved by CCC. The down payment may be obtained by the borrower from another lending source.
(c) The down payment may not include any trade-in, discount, rebate, credit, deferred payment, post-dated check, or promissory note to the supplier or contractor.
[66 FR 4612, Jan. 18, 2001, as amended at 74 FR 41590, Aug. 18, 2009]
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§ 1436.10 Down payment.

(a) A minimum down payment representing the difference between the net cost of the storage facility and the amount of the loan determined in accordance with § 1436.9 will be made by the loan applicant to the supplier or contractor before either the partial or final loan disbursements.

(b) The down payment must be in cash unless some other form of payment is approved by CCC. The down payment may be obtained by the borrower from another lending source.

(c) The down payment may not include any trade-in, discount, rebate, credit, deferred payment, post-dated check, or promissory note to the supplier or contractor.

[66 FR 4612, Jan. 18, 2001, as amended at 74 FR 41590, Aug. 18, 2009]