# 7 CFR § 764.54: Preferences when there is limited funding

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-7-764.54

## Section

- **Citation:** 7 CFR § 764.54
- **Heading:** Preferences when there is limited funding
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 7—Agriculture > Subtitle B—Regulations of the Department of Agriculture > CHAPTER VII—FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE > SUBCHAPTER D—SPECIAL PROGRAMS > PART 764—DIRECT LOAN MAKING > Subpart B—Loan Application Process

## Text

(a) First priority. When there is a shortage of loan funds, approved applications will be funded in the order of the date the application was received, whether or not complete.
(b) Secondary priorities. If two or more applications were received on the same date, the Agency will give preference to:
(1) First, an applicant who is a veteran of any war;
(2) Second, an applicant who is not a veteran, but:
(i) Has a dependent family;
(ii) Is able to make a down payment; or
(iii) Owns livestock and farm implements necessary to farm successfully.
(3) Third, to other eligible applicants.
[72 FR 63298, Nov. 8, 2007, as amended at 86 FR 43391, Aug. 9, 2021]

## Nearby sections

- [7 CFR § 764.1 § 764.1 Introduction.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.1.md)
- [7 CFR § 764.2 § 764.2 Abbreviations and definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.2.md)
- [7 CFR § 764.51 § 764.51 Loan application.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.51.md)
- [7 CFR § 764.52 § 764.52 Processing an incomplete application.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.52.md)
- [7 CFR § 764.53 § 764.53 Processing the complete application.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.53.md)
- [7 CFR § 764.54 § 764.54 Preferences when there is limited funding.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.54.md)
- [7 CFR § 764.101 § 764.101 General eligibility requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.101.md)
- [7 CFR § 764.102 § 764.102 General limitations.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.102.md)
- [7 CFR § 764.103 § 764.103 General security requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.103.md)
- [7 CFR § 764.104 § 764.104 General real estate security requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.104.md)
- [7 CFR § 764.105 § 764.105 General chattel security requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.105.md)
- [7 CFR § 764.106 § 764.106 Exceptions to security requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.106.md)
- [7 CFR § 764.107 § 764.107 General appraisal requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.107.md)
- [7 CFR § 764.108 § 764.108 General insurance requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-7-764.108.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-7-764.54. Check the current official text before relying on it. Not legal advice.