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Electronic Code of Federal Regulations

e-CFR data is current as of February 14, 2020

Title 7Subtitle BChapter XVIIISubchapter HPart 1980Subpart E → §1980.403


Title 7: Agriculture
PART 1980—GENERAL
Subpart E—Business and Industrial Loan Program


§1980.403   Citizenship of borrowers.

Loans to individuals will be made or guaranteed only to those who are citizens of the United States or reside in the United States after being legally admitted for permanent residence. At least 51 percent of the outstanding interest in any corporation or organization-type applicant must be owned by those who are either citizens of the United States or reside in the United States after being legally admitted for permanent residence.

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