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sales tax, concrete blocks, and erection costs are includable in determining net eligible cost. Concrete foundations and electrical wiring are ineligible cost items.
A down payment of at least 30 percent of the eligible cost must be paid to the vendor before the loan can be disbursed by the ASCS office. Loans are for a period of 5 years and are repayable in four equal annual installments. The first installment plus interest is due one year from the date the loan is disbursed. Loans under $10,000 are approved at the county level, and the bins and drying equipment covered under the loan are the only collateral required.
THIS LOAN program features an adjustable interest rate whereby every six months the interest rate may be raised or lowered if
97.3%