- (a) Eligible costs. Financing received under this Program may be used to provide working capital for operating a farm, ranch, or agriculture-related business, including: the lease of facilities, the purchase of machinery and equipment, or for any other agriculture-related business purpose, including the purchase of real estate, as defined in the plan.
- (b) Ineligible costs. Use of financing received under this Program for any costs other than those identified in the plan shall be considered ineligible costs. A loan guarantee is voidable by the Board or the Commissioner if the borrower uses loan proceeds for any costs not identified in the plan.
Source Note:The provisions of this §28.25 adopted to be effective September 1, 2009, 34 TexReg 5902; amended to be effective March 18, 2026, 51 TexReg 1617.