7 U.S.C. § 940c–2 — Rural development loans and grants

(a) The Secretary^* must give borrowers grants or zero-interest loans for rural economic development and job-creation projects, including feasibility studies, start-up costs, incubators, and other reasonable rural-development expenses. (b) For zero-interest loans, the Secretary must set reasonable repayment terms that encourage participation. (c) Repayments must be returned to the subaccount maintained under 7 U.S.C. § 940c(b)(2) and (f). (d) The required grants and loans must be made to the full extent of funds available under (e). (e) (1) In addition to other funds, up to $10,000,000 may be appropriated for each fiscal year 2019–2023, available until spent. (2) From Commodity Credit Corporation funds, the Secretary must credit $5,000,000 to the subaccount for each fiscal year 2022–2024, available until spent, for grant and loan costs. (3) The Secretary must also use, without fiscal-year limit, the interest-differential amounts credited under (c) and, subject to 7 U.S.C. § 940c–1(e)(2), the fees described in section 940c–1(c)(4). (f) The Secretary must maintain the subaccount described in 7 U.S.C. § 940c(b)(2), as it existed in fiscal year 2017, for this section’s purposes.