The amount of a loan to any single agribusiness shall not
exceed twenty percent (20%) of the total cost of the project or $200,000,
whichever is less. Upgrades for the retrofitting of poultry houses shall not
exceed thirty percent (30%) of the total cost of the project or $200,000,
whichever is less. Land purchases will not be considered in the total cost of
the project when determining an ABE Loan. In addition, an existing agribusiness
(one that has been in business for a minimum of the previous twenty four (24)
months at the time of application.) upon use of their initial $200,000, is
eligible to receive an ABE Loan or loans. For the purpose of assisting such
agribusiness to make upgrades, renovations, repairs and other improvements to
their equipment, facilities and operations, which shall not exceed $200,000 or
thirty percent (30%) of the total cost of the project for which financing is
sought, whichever is less. The maximum aggregate amount of ABE loans to any one
existing agribusiness shall not be more than $400,000.
