Eligibility Chapter
Any bank, Production Credit Association (PCA), Farm Credit Service (FCS), credit union, savings and loan association, savings bank or farm supply cooperative which in the normal course of business provides financing in the form of agricultural production loans is eligible to become a participating Lender.
The Lender must send two signed Participating Lender's Agreements (CROP Form 1) to WHEDA. The Participating Lender's Agreement (PLA) is an agreement executed by the Lender and WHEDA which indicates the Lender's willingness to make loans in accordance with the terms and conditions established in this Manual. WHEDA will sign the PLAs and return one to the Lender. WHEDA must have the signed PLAs before we can provide a guarantee on any CROP loan.
A Lender wishing to originate CROP loans must meet the criteria defined in the PLA. If the Lender fails to meet any of these criteria, the Lender must immediately notify WHEDA.
