Economic Emergency Loan Law and Legal Definition
According to 7 CFR 761.2 [Title 7 – Agriculture; Subtitle B Regulations of The Department of Agriculture; Chapter VII Farm Service Agency, Department of Agriculture; Subchapter D Special Programs; Part 761 General Program Administration; Subpart A General Provisions], economic emergency loan is “a loan that was made or guaranteed to an eligible applicant to allow for continuation of the operation during an economic emergency which was caused by a lack of agricultural credit or an unfavorable relationship between production costs and prices received for agricultural commodities. EE loans are not currently funded; however, such outstanding loans are serviced by the Agency or the lender in the case of a guaranteed EE loan.”
Legal Definition list
Related Legal Terms
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Loan [HUD]
- Acquisition, Development and Construction (ADC) Loan
- Acute Economic Need
- Adjustable Rate Mortgage Loan
- Administrative Cost of Issuing a Loan Guarantee
- Agricultural Disease Emergency
- Air Loan
- Allowance for Loan and Lease Losses
- Alternate Non-Emergency Services Provider
