[Federal Register Volume 76, Number 225 (Tuesday, November 22, 2011)]
[Notices]
[Page 72160]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-30107]


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DEPARTMENT OF AGRICULTURE

Farm Service Agency


Funding for the Guaranteed Loan Interest Assistance Program; Farm 
Loan Programs

AGENCY: Farm Service Agency, USDA.

ACTION: Notice.

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SUMMARY: This notice announces that the Farm Service Agency (FSA) is no 
longer accepting applications for guaranteed loans with interest 
assistance because of a lack of program funding.

DATES: Effective Date: November 22, 2011.

FOR FURTHER INFORMATION CONTACT: Randi Sheffer, (202) 720-3889. Persons 
with disabilities who require alternative means for communication 
(Braille, large print, audio tape, etc.) should contact the USDA Target 
Center at (202) 720-2600 (voice and TDD).

SUPPLEMENTARY INFORMATION: The Consolidated Farm and Rural Development 
Act of 1972 (Pub. L. 92-419, CONACT), as amended, authorizes FSA's 
Guaranteed Loan Program. The program provides lenders with a guarantee 
of up to 95 percent of principal and interest on the loan. The FSA 
guarantee permits lenders to make agricultural credit available to 
farmers who would be unable to obtain sufficient credit to fund their 
farming operations without the guarantee. Pursuant to section 351 of 
the CONACT (7 U.S.C. 1999) FSA also subsidizes 4 percent of the 
interest rate on guaranteed loans to qualifying borrowers under its 
Interest Assistance Program. Interest assistance is subject to 
additional eligibility criteria beyond that required for the initial 
guarantee. The regulations implementing FSA's Guaranteed Loan Program 
and IA can be found in 7 CFR part 762.
    This notice announces that FSA is no longer accepting applications 
under the Interest Assistance Program due to a lack of funding. 
However, guaranteed loans will still be available without interest 
assistance.
    This notice does not invalidate existing interest assistance 
agreements. Existing agreements will be honored, claims will be paid as 
agreed, and all eligible servicing options can be pursued. For further 
information on specific applications and loans, current guaranteed loan 
borrowers should contact their FSA State or county office; potential 
guaranteed loan applicants should contact their lender. FSA office 
locations can be found at http://www.fsa.usda.gov. A notice will be 
published in the Federal Register announcing the date FSA will resume 
accepting applications for the Interest Assistance Program if funding 
becomes available.

    Signed on November 17, 2011.
Bruce Nelson,
Administrator, Farm Service Agency.
[FR Doc. 2011-30107 Filed 11-21-11; 8:45 am]
BILLING CODE 3410-05-P