---
kind: "section"
citation: "7 C.F.R. § 1951.859"
title: "7"
number: "1951.859"
heading: "Term of loans."
url: "https://uscodex.org/cfr/7/1951.859"
---

# §1951.859. Term of loans.

- (a) No loans shall be extended for a period exceeding 30 years. Principal payments on loans will be made at least annually. The initial principal payment may be deferred not more than 3 years.
- (b) The terms of loan repayment will be those stipulated in the loan agreement and/or promissory note.

## Notes

### Source

Source: 53 FR 30656, Aug. 15, 1988, unless otherwise noted.

### Authority

Authority: 5 U.S.C. 301; 7 U.S.C 1932 note; 7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C. 1480.