7 CFR 764.234
§ 764.234 Rates and terms.
United States · 7 CFR — Agriculture · Status: effective
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- Citation
- 7 CFR 764.234, § 764.234 Rates and terms, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/19860
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Full text
(a) Rates. The interest rate:
(1) Will be the Agency's Direct Farm Ownership rate, available in each Agency office.
(2) Charged will be the lower rate in effect either at the time of loan approval or loan closing.
(b) Terms. The following terms apply to CLs:
(1) The Agency schedules repayment of a CL based on the useful life of the security.
(2) The maximum term for loans secured by chattels only will not exceed 7 years from the date of the note.
(3) In no event will the term of the loan exceed 20 years from the date of the note.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.