7 CFR 1737.101
§ 1737.101 Amounts spent for preloan activities.
United States · 7 CFR — Agriculture · Status: effective
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- Citation
- 7 CFR 1737.101, § 1737.101 Amounts spent for preloan activities, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/27481
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Full text
If the borrower desires to credit amounts spent for preloan activities against any equity or general funds required by the loan contract, it shall submit an itemized statement of such expenditures to the Area Office. These expenditures will be accounted for on RUS Form 503, “Release of Telephone Loan Funds,” if RUS determines that the amounts spent are reasonable based on normal industry practice and that the procedures set forth in 7 CFR part 1737, subpart D, have been complied with. Statements of preloan expenditures will be verified as to accuracy by loan fund audits.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.