Commodity Credit Corporation March 10, 2014 – Federal Register Recent Federal Regulation Documents

The Commodity Credit Corporation (CCC) is amending the Farm Storage Facility Loan (FSFL) Program regulations to increase the loan amount, for which additional security or a severance agreement is required, from $50,000 to $100,000. We are making a related change for loans secured with collateral that does not have any resale value. The purpose of these amendments is to make the loan process easier for borrowers, especially producers who may not have additional security, but are unlikely to default on a relatively small loan. Raising the threshold for which additional security is required from $50,000 to $100,000 should help more small producers qualify for a loan between $50,000 and $100,000, and will likely reduce their cost to qualify for such a loan.