Loan program in the cigar-leaf areas. Price support loans are also avail- 
able in the cigar leaf areas (except shade-grown) where marketing quotas have 
not been disapproved. The cooperative associations, acting as agents for the 
Commodity Credit Corporation, arrange for facilities, as mecessary, for receiv- 
ing, grading, packing, and storing tobacco. Any eligible grower may deliver 
his tobacco to the receiving point, where a Federal inspector places a grade 
on it. If he accepts the loan rate for the grade, he receives the proceeds of 
the loan from the association, payment being made with funds borrowed from the 
Commodity Credit Corporation. In case he decides not to accept the loan, he 
may withdraw his tobacco. As explained under the auction system above, tobacco 
which cooperative associations receive under the loan program is sold through 
regular channels. Any net profits realized go to the growers, but losses are 
assumed by the Commodity Credit Corporation. 
ag ae 
