|§ 4279.208||Lender eligibility requirements|
|§ 4279.209||Borrower eligibility requirements|
|§ 4279.210||Project eligibility requirements|
Terms Used In CFR > Title 7 > Chapter XLII > Part 4279 > Subpart C > Eligibility Requirements
- Agency: The Rural Business-Cooperative Service or successor Agency assigned by the Secretary of Agriculture to administer the Program. See 7 CFR 4279.202
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association of Agricultural Producers: An organization that represents Agricultural Producers and whose mission includes working on behalf of such producers and the majority of whose membership and board of directors is comprised of Agricultural Producers. See 7 CFR 4279.202
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Biofuel: A fuel derived from Renewable Biomass. See 7 CFR 4279.202
- Biorefinery: A facility (including equipment and processes) that converts Renewable biomass or an intermediate ingredient or feedstock of Renewable biomass into any one or more, or a combination, of Biofuels, Renewable chemicals or Biobased products, and may produce electricity. See 7 CFR 4279.202
- Borrower: The Person that borrows, or seeks to borrow, money from the Lender, including any party liable for the loan except for guarantors. See 7 CFR 4279.202
- Collateral: The asset(s) pledged by the Borrower to secure the loan. See 7 CFR 4279.202
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Eligible project costs: Those expenses approved by the Agency for the Project as set forth in §4279. See 7 CFR 4279.202
- Eligible technology: means , as determined by the Secretary:
(1) A technology that is being adopted in a viable Commercial-scale operation of a Biorefinery that produces any one or more, or a combination, of an Advanced biofuel; a Renewable chemical; or a Biobased product; and
(2) A technology not described in paragraph (1) of this definition that has been demonstrated to have technical and economic potential for commercial application in a Biorefinery that produces any one or more, or a combination, of an Advanced biofuel, a Renewable chemical or a Biobased product. See 7 CFR 4279.202
- Farm cooperative: A business owned and controlled by Agricultural Producers that is incorporated, or otherwise recognized by the State in which it operates, as a cooperatively-operated business. See 7 CFR 4279.202
- Farmer Cooperative Organization: An organization whose membership is composed of Farm Cooperatives. See 7 CFR 4279.202
- Federal debt: Debt owed to the Federal government that is subject to collection under the Debt Collection Improvement Act of 1996, 31 U. See 7 CFR 4279.202
- Indian tribe: This term has the meaning as defined in 25 U. See 7 CFR 4279.202
- Interest: A fee paid by a Borrower to a Lender as a form of compensation for the use of money. See 7 CFR 4279.202
- Lender: The entity approved, or seeking to be approved, by the Agency to make, service, and collect the Agency guaranteed loan that is subject to this subpart. See 7 CFR 4279.202
- Lien: A claim against real or personal property in satisfaction of a debt.
- Loan Note Guarantee: Form RD 4279-5, "Loan Note Guarantee" or predecessor form, issued and executed by the Agency containing the terms and conditions of the guarantee. See 7 CFR 4279.202
- Local government: A county, municipality, town, township, village, or other unit of general government below the State level, or Indian Tribe governments. See 7 CFR 4279.202
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- Project: The facility or portion of a facility receiving funding under this subpart. See 7 CFR 4279.202
- Retrofitting: The modification of a building or equipment to incorporate functions not included in the original design. See 7 CFR 4279.202
- State: Any of the 50 States of the U. See 7 CFR 4279.202
- Technologically New: New or significantly improved equipment, process or production method to deliver a product, or adoption of equipment, process or production method to deliver a new or significantly improved product, of which the first Commercial-Scale use in the United States is within the last five years and is used in not more than three Commercial-Scale facilities in the United States. See 7 CFR 4279.202
- Well capitalized: Federal Deposit Insurance Corporation (FDIC) requirements used to determine if a lending institution has enough capital on hand to withstand negative effects in the market, and which the Agency uses to determine Lender eligibility. See 7 CFR 4279.202
- Working capital: Current assets available to support a business's operations. See 7 CFR 4279.202