1. (a) Purpose. The purpose of the Agriculture-Related Economic Development Loan is to provide financial assistance to Texas-based, agricultural-related with projects located in rural areas via an approved participating lender.
2. (b) Eligible Entities. An eligible agricultural business, a political subdivision or other for-profit or non-profit entity authorized to do business in the State, significantly impacting the agricultural industry and/or furthering rural agriculture-related economic development in Texas may apply for loan funds under this section.
3. (c) Use of Funds. Loans may be used for real estate purchases, building construction, site improvements, equipment, and any other uses that can be identified to positively impact the agricultural industry and/or improve or assist in the agriculture-related economic development of the rural area.
4. (d) Loan Terms. The loan terms will be determined by the lender, the board and as defined by this subchapter.
5. (e) Collateral. The collateral and security requirements will be determined by the board and the participating lender.

Source Note:The provisions of this §28.74 adopted to be effective May 18, 2022, 47 TexReg 2856; amended to be effective March 18, 2026, 51 TexReg 1617.