Title 7 — AgricultureRelease 119-73not60
§2008b Socially Disadvantaged Farmers and Ranchers; Qualified Beginning Farmers and Ranchers
Title 7 › Chapter 50— AGRICULTURAL CREDIT › Subchapter IV— ADMINISTRATIVE PROVISIONS › § 2008b
Summary
The Secretary can create a standard guarantee plan for loans made under subchapter I or II to socially disadvantaged farmers and ranchers (see section 2003(e)) or to qualified beginning farmers and ranchers. Under that plan, the government must cover 95 percent of the loan’s remaining principal.
Full Legal Text
Title 7, §2008b
Agriculture — Source: USLM XML via OLRC
In the case of a loan guaranteed by the Secretary under subchapter I or II to a socially disadvantaged farmer or rancher (as defined in section 2003(e) of this title) or a qualified beginning farmer or rancher, the Secretary may provide for a standard guarantee plan, which shall cover an amount equal to 95 percent of the outstanding principal of the loan.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Prior Provisions
A prior section 2008b, Pub. L. 87–128, title III, § 367, as added Pub. L. 101–624, title XXIII, § 2317, Nov. 28, 1990, 104 Stat. 4008; amended Pub. L. 102–237, title VII, § 701(g), Dec. 13, 1991, 105 Stat. 1879, related to limited transfer authority of loan amounts, prior to repeal by Pub. L. 104–127, title VII, § 755, Apr. 4, 1996, 110 Stat. 1131.
Reference
Citations & Metadata
Citation
7 U.S.C. § 2008b
Title 7 — Agriculture
Last Updated
Apr 3, 2026
Release point: 119-73not60