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Farm Storage Facility Loans

Published on AidPage by IDILOGIC on Jun 24, 2005

Administered by:

US Federal Government Agency (see all agencies)
Department of Agriculture , Farm Service Agency
CFDA #: 10.056

Deadlines and process...

Deadlines

Applications must be filed at least 15 calendar days in advance of the day when the FSA County Committee meets. Loan approvals by the FSA County Committee expire 4 months after the approval date unless extended for up to another 4 months.

Note: When available, this section indicates the deadlines for applications to the funding agency which will be stated in terms of the date(s) or between what dates the application should be received. When not available, applicants should contact the funding agency for deadline information.

Range of Approval/Disapproval Time

The approval process may take from 2 to 6 weeks.

Preapplication Coordination

None. This program is excluded from coverage under OMB Circular No. A-102 and E.O. 12372.

Note: This section indicates whether any prior coordination or approval is required with governmental or nongovernmental units prior to the submission of a formal application to the federal funding agency.

Appeals

Applicants for loans may appeal adverse actions taken against them. The applicant is given an opportunity to appeal the decision to the National Appeals Division.

Note: In some cases, there are no provisions for appeal. Where applicable, this section discusses appeal procedures or allowable rework time for resubmission of applications to be processed by the funding agency. Appeal procedures vary with individual programs and are either listed in this section or applicants are referred to appeal procedures documented in the relevant Code of Federal Regulations (CFR).

Renewals

The loan term is 7 years. The term of the loan may not be extended. The loan is repaid in equal annual installments of principal and interest amortized over the loan term.

Note: In some instances, renewal procedures may be the same as for the application procedure, e.g., for projects of a non-continuing nature renewals will be treated as new, competing applications; for projects of an ongoing nature, renewals may be given annually.