7 CFR § 764.54 - Preferences when there is limited funding.
---
identifier: "/us/cfr/t7/s764.54"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 764.54 - Preferences when there is limited funding."
title_number: 7
title_name: "Agriculture"
section_number: "764.54"
section_name: "Preferences when there is limited funding."
chapter_name: "FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE"
subchapter_number: "D"
subchapter_name: "SPECIAL PROGRAMS"
part_number: "764"
part_name: "DIRECT LOAN MAKING"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301 and 7 U.S.C. 1989."
regulatory_source: "72 FR 63298, Nov. 8, 2007, unless otherwise noted."
cfr_part: "764"
---
# 764.54 Preferences when there is limited funding.
(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]