S.D. Admin. R. 12:07:12:16
With a loan guarantee by a federal agency, the loan participation may not exceed $700,000. The loan participation with a lender for a loan to an individual may be for up to 80 percent of the loan amount or up to the percentage of the guaranty by a federal agency, whichever is the larger percentage. A loan participation with a lender for a loan to a corporation, cooperative, or other entity may be for up to 80 percent of the loan or for up to the percentage of the loan for which there is a federal guarantee times the percentage of eligible farmers in the entity.
With no loan guarantee by a federal agency, the loan participation may not exceed $500,000. The loan participation with a lender for a loan to an individual may be for up to 80 percent of the loan amount. A loan participation with a lender for a loan to a corporation, cooperative, or other entity may be for up to 80 percent of the loan amount times the percentage of eligible farmers in the entity.
S.D. Admin. R. 12:07:12:16
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3, 38-6-8.