Sec. 254. FINANCIAL ASSISTANCE
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## SEC. 254 FINANCIAL ASSISTANCE ###
(a)The Secretary may provide to a firm, on such terms and conditions as he determines to be appropriate, such financial assistance in the form of direct loans or guarantees of loans as in his judgment will materially contribute to the economic adjustment of the firm. The assumption of an outstanding indebtedness of the firm, with or without recourse, shall be considered to be the making of a loan for purposes of this section. ###
(b)Loans or guarantee of loans shall be made under this chapter only for the purpose of making funds available to the firm— ####
(1)for acquisition, construction, installation, modernization, development, conversion, or expansion of land, plant, buildings, equipment, facilities, or machinery, or ####
(2)to supply such working capital as may be necessary to enable the firm to implement its adjustment proposal. ###
(c)No direct loan may be provided to a firm under this chapter if the firm can obtain loan funds from private sources (with or without a guarantee) at a rate no higher than the maximum interest per annum that a participating financial institution may establish on guaranteed loans made pursuant to section 7(a) of the Small Business Act. ###
(d)Notwithstanding any other provision of this chapter, no direct loans or guarantees of loans may be made under this chapter after the date of enactment of the Trade Adjustment Assistance Reform and Extension Act of 1986. **[**[19 U.S.C. 2344](/us/usc/t19/s2344)**]**
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Sec. 254
FINANCIAL ASSISTANCE
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