Classes of Loan

The following classes of loan are hereby established in granting loans:

(1)Class A - Improvement of farm lands:

(a)Improvement of far lands;

(b)Purchases, construction or improvement of essential non-residential buildings on farm lands.

(2)Class B - Farm operating loans:

(a)Farm operating loans. To carry on and improve a farming, manufacturing or fishing operation, including but not limited to:

(1)Purchase of farm and fishing equipment, and livestock.

(2)Payment of production, harvesting and marketing expenses including materials, supplies, labor and services.

(3)Loans for manufacturing, establishing and developing agricultural products and processing plants, using products grown on Guam as the principal ingredient.

(b)Emergency loans. To provide immediate relief and rehabilitation to qualified farmers and fishermen as follows:

(1)In areas stricken by extraordinary rainstorms, winds, drought, tidal wave or other natural catastrophe.

(2)On farmlands stricken by livestock disease epidemic and crop blights. COL1/11/2022 CH. 60 DEPARTMENT OF AGRICULTURE