C.F.R. » Title 12 » CHAPTER VI—FARM CREDIT ADMINISTRATION › SUBCHAPTER B—FARM CREDIT SYSTEM › PART 613—ELIGIBILITY AND SCOPE OF FINANCING › Subpart A—Financing Under Titles I and II of the Farm Credit Act

12 C.F.R. § 613.3020

Financing for farm-related service businesses

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(a) Eligibility. An individual or legal entity that furnishes farm-related services to farmers and ranchers that are directly related to their agricultural production is eligible to borrow from a Farm Credit bank or association that operates under titles I or II of the Act.

(b) Purposes of financing. A Farm Credit Bank, agricultural credit bank, or direct lender association may finance:

(1) All of the farm-related business activities of an eligible borrower who derives more than 50 percent of its annual income (as consistently measured on either a gross sales or net sales basis) from furnishing farm-related services that are directly related to the agricultural production of farmers and ranchers; or

(2) Only the farm-related services activities of an eligible borrower who derives 50 percent or less of its annual income (as consistently measured on either a gross sales or net sales basis) from furnishing farm-related services that are directly related to the agricultural production of farmers and ranchers.

(c) Limitation. The authority of Farm Credit banks and associations operating under section 1.7(a) of the Act to finance eligible farm-related service businesses under paragraphs (b)(1) and (b)(2) of this section is limited to necessary capital structures, equipment, and initial working capital.

[62 FR 4441, Jan. 30, 1997, as amended at 66 FR 28643, May 24, 2001]
Notes of Decisions
Cited in 2 cases, 1997–1999 · leading case: Indep. Bankers Ass'n of Am. v. Farm Credit Admin., 164 F.3d 661 (D.C. Cir. 1999).
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Indep. Bankers Ass'n of Am. v. Farm Credit Admin., 164 F.3d 661 (D.C. Cir. 1999). “As to farm-related businesses, the agency adopted a revised version of 12 C.F.R. § 613.3020 (a), which provides that “[a]n individual or legal entity- that furnishes farm-related services to farmers and ranchers that are- directly related to their agricultural production is…”
Indep. Bankers Ass'n of Am. v. Farm Credit Admin., 986 F. Supp. 633 (D.D.C. 1997). “See 12 C.F.R. § 613.3020 (b) (repealed 1997).”
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