| (a) Purpose. The purpose of the Agriculture and Community
Economic Development Loan is to provide financial assistance to Texas-based
private entities via an approved participating lender.
(b) Eligible Entities. A private for-profit or non-profit
entity authorized to do business in the state of Texas, significantly
impacting the agricultural industry and/or furthering rural economic
development in Texas may apply for loan funds under this section.
(c) Use of Funds. Loans may be used for real estate
purchases, building construction, site improvements, equipment, and
any other uses that can be identified to positively impact the agricultural
industry and/or improve or assist in the economic development of the
rural area.
(d) Loan Terms. The loan terms will be determined by
the lender, the board and as defined by this subchapter.
(e) Collateral. The collateral and security requirements
will be determined by the board and the participating lender.
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