7 U.S.C. § 937
Loans from other credit sources
United States · Title 7 — AGRICULTURE · Status: effective
Cite this
- Citation
- 7 U.S.C. § 937, Loans from other credit sources, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/429186
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Full text
When it appears to the Secretary that the loan applicant is able to obtain a loan for part of his credit needs from a responsible cooperative or other credit source at reasonable rates and terms consistent with the loan applicant’s ability to pay and the achievement of this chapter’s objectives, he may request the loan applicant to apply for and accept such a loan concurrently with an insured loan, subject, however, to full use being made by the Secretary of the funds made available hereunder for such insured loans under this subchapter. The Secretary may not request any applicant for an electric loan under this chapter to apply for and accept a loan in an amount exceeding 30 percent of the credit needs of the applicant.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- An Act to amend the Rural Electrification Act of 1936, as amended, to establish a Rural Electrification and Telephone Revolving Fund to provide adequate funds for rural electric and telephone systems through insured and guaranteed loans at interest rates which will allow them to achieve the objectives of the Act, and for other purposes.House: no recorded tallySenate: no recorded tally
- Omnibus Budget Reconciliation Act of 1981House: no recorded tallySenate: no recorded tally
- Rural Electrification Loan Restructuring Act of 1993House: no recorded tallySenate: no recorded tally
- Federal Crop Insurance Reform and Department of Agriculture Reauthorization Act of 1994House: no recorded tallySenate: no recorded tally