7 CFR § 4279.279 - Transfer of Lenders.

---
identifier: "/us/cfr/t7/s4279.279"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 4279.279 - Transfer of Lenders."
title_number: 7
title_name: "Agriculture"
section_number: "4279.279"
section_name: "Transfer of Lenders."
chapter_name: "RURAL BUSINESS-COOPERATIVE SERVICE, DEPARTMENT OF AGRICULTURE"
part_number: "4279"
part_name: "GUARANTEED LOANMAKING"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 7 U.S.C. 1989: 7 U.S.C. 1932(a); and Public Law 116-136, Division B, Title I."
regulatory_source: "61 FR 67633, Dec. 23, 1996, unless otherwise noted."
cfr_part: "4279"
---


# 4279.279 Transfer of Lenders.

(a) The Agency may approve the substitution of a new eligible Lender in place of a former Lender who has been issued an outstanding Conditional Commitment when the Loan Note Guarantee has not yet been issued provided that there are no changes in the:

(1) Borrower's ownership or control, loan purposes, or scope of Project;

(2) Loan terms and conditions in the Conditional Commitment; and

(3) Loan Agreement.

(b) The Agency must determine that the new Lender is eligible in accordance with § 4279.208 prior to approving the substitution. The original Lender must provide the Agency with a letter stating the reasons it no longer desires to be a Lender for the Project. The substituted Lender must execute a new part B of Form 4279-1 and Lender's Agreement (unless a valid Lender's Agreement with the Agency already exists), and must complete a new Lender's analysis in accordance with § 4279.215. The new Lender may also be required to provide other updated application items outlined in § 4279.261(k).