7 Pa. Code § 138d.4

Current through Register Vol. 54, No. 52, December 28, 2024

Section 138d.4 - Eligible uses

Proceeds from a loan made under this chapter shall be used by the applicant solely for the purchase and installation of machinery or equipment to be used in connection with the applicant's farm operation or for the construction or reconstruction of a building used in connection with the installation of the machinery or equipment. Loan proceeds may not be used for any of the following purposes:

(1) To cause, aid or assist indirectly or directly in the relocation of a farm from one location in this Commonwealth to another.

(2) To supplant funding that is readily available from private sector sources on commercially reasonable terms.

(3) To refinance a portion of the total project cost or other existing loans or debts.

(4) For use in a project outside the geographic boundaries of this Commonwealth.

(5) For the purchase of motor vehicles.

7 Pa. Code § 138d.4

This section cited in 7 Pa. Code § 138d.12 (relating to action by Secretary).