7 U.S.C. § 8789: Storage facility loans

As soon as practicable after the date of enactment of this Act, the Secretary shall establish a storage facility loan program to provide funds for producers of grains, oilseeds, pulse crops, hay, renewable biomass, and other storable commodities (other than sugar), as determined by the Secretary, to construct or upgrade storage and handling facilities for the commodities. has a satisfactory credit history; has a need for increased storage capacity; and demonstrates an ability to repay the loan. A storage facility loan under this section shall have a maximum term of 12 years. The maximum principal amount of a storage facility loan under this section shall be $500,000. The Secretary shall provide for 1 partial disbursement of loan principal and 1 final disbursement of loan principal, as determined to be appropriate and subject to acceptable documentation, to facilitate the purchase and construction of eligible facilities. a lien on the real estate parcel on which the storage facility is located; or such other security as is acceptable to the Secretary; agrees to increase the down payment on the storage facility by an amount determined appropriate by the Secretary; or provides other security acceptable to the Secretary; and of adequate size and value to adequately secure the loan; and not subject to any other liens or mortgages that are superior to the lien interest of the Commodity Credit Corporation.