Federal · Title 7 — Agriculture
7 U.S.C. § 7971: Storage facility loans
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Notwithstanding any other provision of law and as soon as practicable after May 13, 2002 , the Commodity Credit Corporation shall amend part 1436 of title 7, Code of Federal Regulations, to establish a sugar storage facility loan program to provide financing for processors of domestically-produced sugarcane and sugar beets to construct or upgrade storage and handling facilities for raw sugars and refined sugars. has a satisfactory credit history; has a need for increased storage capacity, taking into account the effects of marketing allotments; and demonstrates an ability to repay the loan. have a minimum term of 7 years; not include any penalty for prepayment; and be in such amounts and on such other terms and conditions (including terms and conditions relating to downpayments, collateral, and eligible facilities) as are normal, customary, and appropriate for the size and commercial nature of the borrower.
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