Code of Federal Regulations Title 7. Agriculture § 7.762.107 Micro Lender Program

(1) To request MLP Status, a lender must submit an application form to any local FSA office.

(2) The lender must provide any additional information requested by the Agency to process an MLP request, if the lender continues with the approval process.

(3) MLP lender authorities are limited to originating and servicing EZ Guarantee loans.

(1) Have experience in making and servicing business loans.

(2) Have the staff and resources to properly and efficiently discharge its loan making and loan servicing responsibilities that may include use of Agency approved agents.

(3) Be subject to oversight as established and announced by the Agency on the FSA Web site (www.fsa.usda.gov).

(4) Have a loss rate not in excess of the maximum MLP loss rate established and announced by the Agency on the FSA Web site (www.fsa.usda.gov).

(5) Have made the minimum number of loans as established and announced by the Agency on the FSA Web site (www.fsa.usda.gov).

(6) Not be debarred or suspended from participation in Government contracts or programs or be delinquent on a Government debt. This includes the lender's officers and agents.

(1) Renewal of MLP Status is not automatic. A lender must submit a new application for renewal.

(2) MLP Status will be renewed if the applicable eligibility criteria under this section are met, and no cause exists for denying renewal under paragraph (d)(1) of this section.

(1) Any of the following instances constitutes cause for revoking or not renewing MLP Status:

(2) A lender that has lost MLP Status may reapply for MLP Status once the problem that caused the MLP Status to be revoked has been resolved.