Limitations on amount of farm ownership loans

The Secretary shall make or insure no loan under sections 1922, 1923, 1924, 1934, and 1935 of this title that would cause the unpaid indebtedness under such sections of any one borrower to exceed the smaller of (1) the value of the farm or other security, or (2) in the case of a loan other than a loan guaranteed by the Secretary, $600,000, or, in the case of a loan guaranteed by the Secretary, $1,750,000 (increased, beginning with fiscal year 2019, by the inflation percentage applicable to the fiscal year in which the loan is guaranteed and reduced by the amount of any unpaid indebtedness of the borrower on loans under subchapter II that are guaranteed by the Secretary).

( Pub. L. 87–128, title III, § 305 , Aug. 8, 1961 , 75 Stat. 308 ; Pub. L. 91–620, § 1 , Dec. 31, 1970 , 84 Stat. 1862 ; Pub. L. 92–419, title I, § 103 , Aug. 30, 1972 , 86 Stat. 658 ; Pub. L. 91–524, title VIII, § 807 , as added Pub. L. 93–86, § 1(27)(B) , Aug. 10, 1973 , 87 Stat. 237 ; Pub. L. 95–334, title I, § 103 , Aug. 4, 1978 , 92 Stat. 421 ; Pub. L. 102–554, § 3 , Oct. 28, 1992 , 106 Stat. 4142 ; Pub. L. 105–277, div. A, § 101(a) [title VIII, § 806(a)] , Oct. 21, 1998 , 112 Stat. 2681 , 2681–39; Pub. L. 110–234, title V, § 5003 , May 22, 2008 , 122 Stat. 1144 ; Pub. L. 110–246, § 4(a) , title V, § 5003, June 18, 2008 , 122 Stat. 1664 , 1905; Pub. L. 115–334, title V, § 5103 , Dec. 20, 2018 , 132 Stat. 4669 .)