Farm Service Agency January 2013 – Federal Register Recent Federal Regulation Documents

Microloan Operating Loans
Document Number: 2013-00672
Type: Rule
Date: 2013-01-17
Agency: Department of Agriculture, Farm Service Agency
The Farm Service Agency (FSA) is modifying Operating Loan (OL) application, eligibility, and security requirements for Microloans (ML) to better serve the unique operating needs of small family farm operations. The intended effect of this rule is to make the OL Program more widely available and attractive to small operators through reduced application requirements, more timely application processing, and added flexibility in meeting the managerial ability eligibility requirement. FSA is also removing provisions for the low documentation (Lo-Doc) application process for OLs from the existing direct loan regulations.