Any bank, farm credit service (includes production credit association, federal land credit association and agricultural credit association); credit union, savings bank, savings and loan association, or other entity that makes loans for the acquisition or improvement of agricultural assets is eligible to participate in the Farm Asset Reinvestment Management ("FARM") Guarantee.
The Lender must send a signed Participating Lender's Agreement (FARM 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 FARM loan.
A Lender wishing to originate FARM 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.
