The Farmer Disaster Loan Program is created within the Department of Agriculture for the purpose of making loans at a preferred rate of interest to allow farmers to rebuild, repair, or recover their farmlands, buildings, crops, or livestock damaged or destroyed by a natural disaster. The Department shall manage and supervise the Program.
(a) The Department may make loans under the Farmer Disaster Loan Program from funds provided in the budget. (b) Money derived from payment of principal and interest on the loans shall be used by the Department, as needed, to make additional loans under the Farmer Disaster Loan Program. If any money derived from the payment of principal […]
(a) (1) The Department may make direct loans not exceeding $15,000 to qualifying farmers at an interest rate which will make the program self-supporting. In establishing the interest rate from time to time, the Department shall take into account all of the expenses of the program including administrative expenses of the program, and possible losses. The interest […]
The Department may: (1) Make farmer disaster loans and extend or modify the terms of an existing loan, set the principal amounts and maturities (not exceeding five years) thereof, enforce them according to their terms, and execute all necessary and convenient documents in connection therewith; foreclose mortgages; and obtain and enforce deficiency judgments. Approval or execution […]
Whoever knowingly makes or causes to be made any false statement or report for the purpose of influencing the action of the Department upon any application for a loan or any action of the Department affecting a loan already made, shall be subject to a penalty in the amount of three times the amount of […]
