South Dakota Administrative Rules
Title 12 - Department of Agriculture
Article 12:07 - Agriculture enterprise programs
Chapter 12:07:12 - Rural development loans and participations
Section 12:07:12:03 - Eligibility requirements for applicant
Current through Register Vol. 50, page 78, December 27, 2023
To be eligible for a loan, an applicant must meet the following requirements:
(1) If the applicant is an individual, the applicant must meet the following requirements:
(2) If the applicant is a cooperative, corporation, partnership, or other legal entity, it must meet the following requirements:
(3) If the applicant is applying for a bridge loan, the applicant must meet the eligibility criteria of the Lender or USDA program;
(4) If the applicant is applying as a small or beginning farmer, the applicant must meet the criteria set forth above and the small and beginning farmer definition set forth in 12:07:05.01:01.
(5) Coapplicants must meet the same criteria as applicants in the applicable category.
17 SDR 141, effective March 25, 1991; 23 SDR 179, effective April 29, 1997; 28 SDR 119, effective March 5, 2002; 29 SDR 34, effective September 18, 2002; 38 SDR 45, effective September 22, 2011; 45 SDR 031, effective 9/13/2018
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3, 38-6-8.