Who is eligible?

Q: Who is eligible?

Qualifications:To qualify for an FSA Guarantee, a loan applicant must:<ul><li>Be a citizen of the United States (or legal resident alien), which includes Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, and certain former Pacific Trust Territories</li><li>Have an acceptable credit history as determined by the lender</li><li>Have the legal capacity to incur responsibility for the loan obligation</li><li>Be unable to obtain a loan without an FSA guarantee</li><li>Not have caused FSA a financial loss by receiving debt forgiveness on more than 3 occasions on or prior to April 4, 1996, or any occasion after April 4, 1996, on either an FSA direct or guarantee loan</li><li>Be the owner-operator or tenant-operator of a family farm after the loan is closed. For an Operating loan, the producer must be the operator of a family farm after the loan is closed. For a Farm Ownership loan, the producer also needs to own the farm</li><li>Not be delinquent on any Federal debt.</li></ul>Conservation Loan applicants do not have to meet the \"family farm\" definition nor do they have to be unable to obtain a loan without an FSA guarantee. All other eligibility requirements must be met.

Question

Who is eligible?

Accepted Answer

Qualifications:

To qualify for an FSA Guarantee, a loan applicant must:

Be a citizen of the United States (or legal resident alien), which includes Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, and certain former Pacific Trust Territories
Have an acceptable credit history as determined by the lender
Have the legal capacity to incur responsibility for the loan obligation
Be unable to obtain a loan without an FSA guarantee
Not have caused FSA a financial loss by receiving debt forgiveness on more than 3 occasions on or prior to April 4, 1996, or any occasion after April 4, 1996, on either an FSA direct or guarantee loan
Be the owner-operator or tenant-operator of a family farm after the loan is closed. For an Operating loan, the producer must be the operator of a family farm after the loan is closed. For a Farm Ownership loan, the producer also needs to own the farm
Not be delinquent on any Federal debt.

Conservation Loan applicants do not have to meet the \"family farm\" definition nor do they have to be unable to obtain a loan without an FSA guarantee. All other eligibility requirements must be met.

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