La. Admin. Code tit. 7 § V-703

Current through Register Vol. 50, No. 11, November 20, 2024

Section V-703 - Eligibility of Applicant

A. Any person engaged or to be engaged in the processing of agricultural products shall be eligible for a low-interest agricultural loan, under the Louisiana Agricultural Products Processing Linked Deposit Program. However, the applicant must also meet all the required characteristics as outlined under eligible agricultural products processing business, in §701 herein.

B. The commissioner and treasurer shall give priority to those persons who utilize Louisiana agricultural products to the maximum extent possible.

C. The lending institution shall give priority to the:

1. economic needs of the area of the state in which the business is located;

2. the number of jobs created or preserved in the state;

3. the financial need of the agricultural products processing business relative thereto;

4. the order in which the linked deposit loan packages were received and whenever possible give priority based on this chronological order.

La. Admin. Code tit. 7, § V-703

Promulgated by the Department of Agriculture and Forestry, Office of Marketing, Market Commission, LR 19:1305 (October 1993).

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:446.3 and R.S. 49:327.2.