Purpose.

(a) This subpart addresses: (1) The allocation of funds for direct and guaranteed FO, CL, and OL loans; (2) The establishment of socially disadvantaged target participation rates; and (3) The reservation of loan funds for beginning farmers. (b) The Agency does not allocate EM loan funds to State Offices but makes funds available following a designated or declared disaster. EM loan funds are available on a first-come first-served basis. (c) State funding information is available for review in any State Office. [72 FR 63285, Nov. 8, 2007, as amended at 75 FR 54013, Sept. 3, 2010]