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Recourse loan program

Owned by Dennis Daggett (Deactivated)
2018-02-17
1 min read

A provision allowing farmers or processors participating in Government commodity programs to pledge a quantity of a commodity as collateral and obtain a loan from the Commodity Credit Corporation (CCC), which the borrower must repay with interest within a specified period. This provision is unlike nonrecourse loans, which allow producers to settle their loans by delivering the collateral to the CCC.

Authorization Path: 1.1.1.1.55.0

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