Code of Colorado Regulations
1200 - Department of Agriculture
1204 - Markets Division
8 CCR 1204-11 - RULES PERTAINING TO THE COLORADO AGRICULTURAL FUTURE LOAN PROGRAM
Part 3 - Loan Eligibility and Prioritization

Universal Citation: 1200 CO Code Regs 3

Current through Register Vol. 47, No. 17, September 10, 2024

3.1 The Department will determine an applicant's eligibility and possible priority status prior to the Financial Entity considering the applicant for participation in the Loan Program.

3.2. Eligible Farmers or Ranchers and Eligible Businesses may submit an application to determine eligibility and possible priority status to the Department for a loan from the Loan Program at any time during the year.

3.3. Loan Eligibility and Prioritization applications are available at the Department during normal business hours at 305 Interlocken Parkway, Broomfield, Colorado, or may be obtained at any time on-line by visiting the Department's website: www.ag.colorado.gov. Access to Loan Eligibility and Prioritization applications may also be made available by an authorized Financial Entity.

3.4. The Department will use the following criteria in considering eligibility and prioritization:

3.4.1. Whether all eligibility requirements for participating in the Loan Program are satisfied, as those terms are defined in Part 2 of this rule;

3.4.2. Whether applicants are Underserved or Underrepresented, as those terms are defined in Part 2.16 of this rule;

3.4.3. Whether applicants have owned and operated a farm or ranch for less than 10 years;

3.4.4. The likelihood of success of the proposed project or investment.

3.5. The Department may also use the following criteria in considering prioritization:

3.5.1. The anticipated economic impact from the use of the loan funds, including the number of new jobs estimated to be created in Colorado, the amount of new revenue generated, and the overall impact on the continued success of Colorado agriculture;

3.5.2. Whether the loan will be used to fill a gap or need in Colorado agriculture, including a need for new or expanded processing equipment;

3.5.3. Whether the loan will be used to advance energy conservation, improve soil health, mitigate the impacts of drought or climate change, or promote good stewardship practices on the land.

3.6. After consideration of the Loan Eligibility and Prioritization application, the Department will communicate to the applicant the determination of the applicant's eligibility, possible prioritization of the applicant's loan application, and next steps, if any.

3.7. After consideration of the Loan Eligibility and Prioritization application, the Department will advise the Financial Entity of qualifying applicants and the possible prioritization of the applicant's loan.

Disclaimer: These regulations may not be the most recent version. Colorado may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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