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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) An eligible applicant's documentation shall include the following for the board's review:
(1) the plan, as submitted to the lender, for the applicant's proposed farm or ranch operation or agriculture-related business to be financed that includes a budget for the proposed operation;
(2) a completed application for a loan from a commercial lender on which an eligible applicant has indicated how the loan proceeds will be used to implement the applicant's plan; and
(3) the signed statement of a loan officer of the commercial lender that a loan guarantee is requested for approval of the loan application.
(b) The board may charge a reasonable application fee for processing an application filed under this section.
Cite this article: FindLaw.com - Texas Agriculture Code - AGRIC § 58.053. Application for Loan Guarantee - last updated January 01, 2024 | https://codes.findlaw.com/tx/agriculture-code/agric-sect-58-053/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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