7 CFR 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.
Title 7 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 7 CFR Part 1436.