Sec. 5304. Priority for participation loans

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Section 346(b)(2)(A)(i) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1994(b)(2)(A)(i) ) is amended by adding at the end the following: In order to maximize the number of borrowers served under this clause, the Secretary— shall give priority to applicants who apply under the down payment loan program under section 310E or joint financing arrangements under section 307(a)(3)(D); and may offer other financing options under this subtitle to applicants only if the Secretary determines that down payment or other participation loan options are not a viable approach for the applicants. .

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U.S. Code

Maximum amounts for loans authorized; long-term cost projections
§ 1994

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Sec. 5304

Priority for participation loans

U.S.C.§ 1994

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