7 CFR §764.232

1. (a)The applicant:
   1. (1)Must comply with general eligibility requirements specified in § 764.101 except paragraphs (e) and (k) of that section;
   2. (2)And anyone who will sign the promissory note, must not have received debt forgiveness from the Agency on any direct or guaranteed loan; and
   3. (3)Must be the owner-operator or tenant-operator of a farm and be engaged in agricultural production after the time of loan is closed. In the case of an entity:
      1. (i)The entity is controlled by farmers engaged primarily and directly in farming in the United States;
      2. (ii)The entity must be authorized to operate a farm in the State in which the farm is located.
2. (b)[Reserved]