[Code of Federal Regulations]
[Title 7, Volume 7]
[Revised as of January 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR761.8]

[Page 405-406]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 761--GENERAL AND ADMINISTRATIVE--Table of Contents
 
Sec. 761.8  Loan limitations.

    (a) Dollar limits. The outstanding principal balances for a farm 
loan applicant or anyone who will sign the promissory note cannot exceed 
the following:
    (1) Farm Ownership loans, Beginning Farmer Down payment loans and 
Soil and Water loans:
    (i) Direct--$200,000;
    (ii) Guaranteed--$731,000 (Fiscal Year 2001);
    (iii) Any combination of a direct Soil and Water loan, direct Farm 
Ownership loan, guaranteed Soil and Water loan, and guaranteed Farm 
Ownership loan--$731,000 (Fiscal Year 2001);
    (2) Operating loans:
    (i) Direct--$200,000

[[Page 406]]

    (ii) Guaranteed--$731,000 (Fiscal Year 2001)
    (iii) Any combination of a direct Operating loan and guaranteed 
Operating loan--$731,000 (Fiscal Year 2001);
    (3) Any combination of guaranteed Farm Ownership loan, guaranteed 
Soil and Water loan, and guaranteed Operating loan--$731,000 (Fiscal 
Year 2001);
    (4) Any combination of direct Farm Ownership loan, direct Soil and 
Water loan, direct Operating loan, guaranteed Farm Ownership loan, 
guaranteed Soil and Water loan, and guaranteed Operating loan--$931,000 
(Fiscal Year 2001);
    (5) Emergency loans--$500,000;
    (6) Any combination of direct Farm Ownership loan, direct Soil and 
Water loan, direct Operating loan, guaranteed Farm Ownership loan, 
guaranteed Soil and Water loan, guaranteed Operating loan, and Emergency 
loan--$1,431,000 (Fiscal Year 2001).
    (b) Adjustment. The dollar limits of guaranteed loans will be 
adjusted each fiscal year based on the percentage change in the Prices 
Paid by Farmers Index as compiled by the USDA, National Agricultural 
Statistics Service (NASS).
    (c) Line of credit advances. The total dollar amount of guaranteed 
line of credit advances and income releases cannot exceed the total 
estimated expenses, less interest expense, as indicated on the 
borrower's cash flow budget, unless the cash flow budget is revised and 
continues to reflect a feasible plan.

[66 FR 7566, Jan. 24, 2001]