TITLE 7 - AGRICULTURE

SUBTITLE B - REGULATIONS OF THE DEPARTMENT OF AGRICULTURE

CHAPTER XVII - RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE

PART 1783 - REVOLVING FUNDS FOR FINANCING WATER AND WASTEWATER PROJECTS (REVOLVING FUND PROGRAM)

subpart c - REVOLVING FUND PROGRAM LOANS

1783.14 - What are the eligibility criteria for RFP loan recipients?

  (a) A loan recipient must be an eligible entity as defined in 1783.3.

  (b) The loan recipient must be unable to finance the proposed project from their own resources or through commercial credit at reasonable rates and terms.

  (c) The loan recipient must have or will obtain the legal authority necessary for owning, constructing, operating and maintaining the proposed service or facility, and for obtaining, giving security for, and repaying the proposed loan.

  (d) The project funded by the proceeds of an RFP loan must be located in, or the services provided as the result of such project must benefit, rural areas.