[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1703.23]

[Page 39]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1703--RURAL DEVELOPMENT--Table of Contents
 
      Subpart B--Rural Economic Development Loan and Grant Program
 
Sec. 1703.23  Supplemental funds requirements for zero-interest loans and grants.

    The Administrator will not select an application unless the project 
will receive supplemental funds in an amount at least equal to 20 
percent of the RUS zero-interest loan and grant to be provided to the 
project, as determined by the Administrator. Supplemental funds as used 
in this section may come from the project owner in the form of equity 
funds, private sources, state and local government sources, other 
Federal Government sources, the borrower or other sources. Only 
supplemental funds that will be provided to the project after the date 
RUS receives the borrower's completed application may be used to satisfy 
this requirement. Supplemental financing must be verified and committed 
to the project in form and substance satisfactory to the Administrator 
before RUS will advance any funds.