2013 US Code
Title 10 - Armed Forces
Subtitle B - Army (§§ 3001 - 4842)
Part IV - SERVICE, SUPPLY, AND PROCUREMENT (§§ 4501 - 4842)
Chapter 434 - ARMAMENTS INDUSTRIAL BASE (§§ 4551 - 4555)
Section 4555 - ARMS Initiative loan guarantee program
Publication Title | United States Code, 2012 Edition, Supplement 1, Title 10 - ARMED FORCES |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 10 - ARMED FORCES Subtitle B - Army PART IV - SERVICE, SUPPLY, AND PROCUREMENT CHAPTER 434 - ARMAMENTS INDUSTRIAL BASE Sec. 4555 - ARMS Initiative loan guarantee program |
Contains | section 4555 |
Date | 2013 |
Laws in Effect as of Date | January 16, 2014 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Added Pub. L. 106-398, §1 [[div. A], title III, §344(a)(1)], Oct. 30, 2000, 114 Stat. 1654, 1654A-70. |
Statutes at Large Reference | 114 Stat. 1654 |
Public Law Reference | Public Law 106-398 |
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(a)
(b)
(c)
(A) process applications for loan guarantees;
(B) guarantee repayment of loans; and
(C) provide any other services to the Secretary to administer the loan guarantee program.
(2) The officials referred to in paragraph (1) are as follows:
(A) The Administrator of the Small Business Administration.
(B) The head of any appropriate agency in the Department of Agriculture, including—
(i) the Administrator of the Farmers Home Administration; and
(ii) the Administrator of the Rural Development Administration.
(3) Each official authorized to do so under an agreement entered into under paragraph (1) may guarantee loans under this section to commercial firms of any size, notwithstanding any limitations on the size of applicants imposed on other loan guarantee programs that the official administers.
(4) To the extent practicable, each official processing loan guarantee applications under this section pursuant to an agreement entered into under paragraph (1) shall use the same processing procedures as the official uses for processing loan guarantee applications under other loan guarantee programs that the official administers.
(d)
(1) $20,000,000, with respect to any single borrower; and
(2) $320,000,000 with respect to all borrowers.
(e)
(Added Pub. L. 106–398, §1 [[div. A], title III, §344(a)(1)], Oct. 30, 2000, 114 Stat. 1654, 1654A–70.)
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