loan terms and conditions

loan terms and conditions Sec. 305. Loans pursuant to sections 302 and 303 shall have such terms and conditions as the Director shall determine, subject to the following limitations: 78 Stat. 525 (a) there is reasonable assurance of repayment of the loan; (b) the credit is not otherwise available on reasonable terms from private sources or other Federal, State, or local programs; (c) the amount, of the loan, together with other funds available, is adequate to assure completion of the project or achievement of the purposes for which the loan is made; (d) the loan bears interest at a rate not less than (1) a rate determined by the Secretary of the Treasury, taking into consideration the average market, yield on outstanding Treasury obligations of comparable maturity, plus (2) such additional charge, if any, toward covering other costs of the program as the Director may determine to be consistent with its purposes; (e) with respect to loans made pursuant to section 303, the loan is repayable within not more than thirty years; and (f) no financial or other assistance shall be provided under this part to or in connection with any corporation or cooperative organization for the production of agricultural commodities or for manufacturing purposes.