FINANCIAL ASSISTANCE.

SEC. 314. FINANCIAL ASSISTANCE. (a) Upon compliance with section 312(c), the Secretary of Commerce may provide to a firm, on such terms and conditions as he determines to be appropriate, such financial assistance in the form of guarantees of loans, agreements for deferred participations in loans, or loans, as in his judgment will materially contribute to the economic adjustment of the firm. The assumption of an outstanding indebtedness of the firm, with or without recourse, shall be considered to be the making of a loan for purposes of this section. (b) Guarantees, agreements for deferred participations, or loans shall be made under this section only for the purpose of making funds available to the firm— (1) for acquisition, construction, installation, modernization, development, conversion, or expansion of land, plant, buildings, equipment, facilities, or machinery, or (2) in cases determined by the Secretary of Commerce to be exceptional, to supply working capital. (c) To the maximum extent practicable, the Secretary of Commerce shall furnish financial assistance under this section through agencies furnishing financial assistance under other law.