65 



Limits should be set for the amount of collateral required of the borrower 

 and the application should be simplified. 



The Business and Industry Guaranteed LoansProgram is less tedious and does 

 not offer the lower interest rate of FmHA. 



Public Law 103-50 had provisions to reduce the interest rate on these loans 

 but apparently the statute expired before the RDA published regulations to 

 implement this authority. So, although the legislation was written, 

 producers were not able to take advantage of this provision. 



The most attractive option here would be the Business & Industry program with 

 the interest rate buy down. 



In conclusing we appreciate the effort that has been made by all the agencies 

 involved to make the meaningful changes that have been implemented over the 

 past few months to make the program better serve our needs and to include us 

 in programs such as TAP and fencing. 



We also want to thank all of the elected officials who made the legislation 

 possible and who assisted us to raise some of these issues with the appropriate 

 officials. 



(Attachment follows:) 



