Land Contract Guarantee program and Emergency Equine Loss Loan (EM) Program - Direct Loan Making

Land Contract Guarantee Program and Emergency Equine Loss Loan (EM) Program - Direct Loan Making

FSA-2002ins[1]

Land Contract Guarantee program and Emergency Equine Loss Loan (EM) Program - Direct Loan Making

OMB: 0560-0278

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Instructions for FSA-2002

THREE-YEAR FINANCIAL HISTORY

This form is used to gather three years financial history from applicants.


Submit the original of the completed form in hard copy or facsimile to the appropriate USDA servicing office.


Customers who have established electronic access credentials with USDA may electronically transmit this form to the USDA servicing office, provided that the customer submitting the form is the only person required to sign the transaction.


Features for transmitting the form electronically are available to those customers with access credentials only. If you would like to establish online access credentials with USDA, follow the instructions provided at the USDA eForms web site.


Applicants must complete all Items.


Fld Name /
Item No.

Instruction

1

Name

Enter the applicant’s name


Enter the last two digits of the year for which information is provided at the beginning of each column. Complete the appropriate column for the year that information is being provided.

A

Operating Income

A1

Crop Sales

Enter the total dollar amount of all crop sales received for each of the three preceding years.

A2

Livestock & Poultry Sales

Enter the total dollar amount of all livestock and poultry sales received for each of three preceding years.

A3

Dairy Livestock Sales

Enter the total dollar amount for all dairy livestock sales received for each of three preceding years.

A4

Milk Sales

Enter the total dollar amount for all milk sales received for each of the preceding three years.

A5

Livestock Product Sales

Enter the total dollar amount of livestock product sales (wool, eggs, etc.) received for each of the preceding three years.



A6

Ag Program Payments

Enter the total dollar amount of Ag program payments received for each of the preceding three years.

A7

Crop Insurance Proceeds

Enter the total dollar amount of crop insurance proceeds received for each of the preceding three years.

A8

Custom Hire Income

Enter the total dollar amount of custom hire income proceeds received for each of the preceding three years.

A9

Other Income

Enter the total dollar amount of other farm-related income (gas tax refunds, rebates, etc.) received for each of the preceding three years.

A10

Total Operating Income

Enter the total income from Item A1 through Item A9 for each of the three years.

B

Operating Expenses

B1 through B23



Enter the expense amount associated with each item listed in Item B1 through Item B23 for each of the last three preceding years. Include expenses financed with 30-60 day credit, credit cards, and open store accounts. Expenses entered should reflect what is being produced in Part A (Item A1 through Item A10).

B24

Total Operating Expenses

Enter the total expenses for each of the three preceding years separately (Items B1 through B23).


C

Non Operating

C1

Owner Withdrawal

Enter the total amount of family living expenses and all non-farm debt payments for each of the three preceding years.

C2

Income Taxes

Enter the total State and Federal income taxes paid in each of the three preceding years.

C3

Non-Farm Income

Enter the total dollar amount of income received from non-farm sources for each of the preceding three years.


C4

Non-Farm

Expenses

Enter the total dollar amount of non-farm expenses associated with non-farm businesses for each of the preceding three years.



Fld Name /
Item No.


Instruction

D

Financing

D1

Term Principal Payment

Enter the total dollar amount of principal paid in each of the three years for farm related debts. (Do not include payments already included in C1 “Owner Withdrawal.”)

D2

Operating Loan Advance

Enter the total dollar amount of the operating loan advance for each of the three preceding years.

D3

Term Loan Advance

Enter the total dollar amount received for the term loan advance for each of the three preceding years.

D4

Operating Loan Payment

Enter the total dollar amount paid for operating loans for each of the three preceding years. If you received loans from more than one source combine them to a single total.

E

Capital

E1

Capital Sales

Enter the total dollar amount received from the sale of depreciable items (equipment, breeding livestock, etc.) and real estate during each of the three preceding years.

E2

Capital Expenditures

Enter the total dollar amount of the purchases of depreciable items (equipment, breeding livestock, etc.) and real estate during each of the preceding three years.

E3

Capital Contributions

Enter the total dollar amount of the inflows of capital that are not the result of business operations or other income for each of the three preceding years. Capital contributions usually include gifts, inheritance, lottery winnings, the gift value of substantial asset purchases for less than market value, and the capital contributions of entity members.

Caution: ensure that capital contributions are not double-counted in capital sales.



Fld Name /
Item No
.

Instruction

E4

Capital Withdrawals

Enter the total dollar amount of outflows of capital that are not the result of business operations or owner withdrawals for each of the three preceding years. Capital withdrawals usually include gifts, the gift value of substantial sales of asset for less than market value, and withdrawal of capital by entity members.

Caution: ensure that capital withdrawals are not double-counted in capital expenditures.

F

Signature

F1

Signature

Enter the applicant’s signature


If faxing or mailing the form, print the form and manually enter your signature. This form is approved for electronic transmission. If you have established credentials with USDA to submit forms electronically, use the buttons provided on the form for transmitting the form to the USDA servicing office. Electronic submission may only be completed if you are the only person required to sign this form.

F2

Date

Enter the date the applicant signed the form.





File Typeapplication/msword
File TitleTemplate Users: Select the text for each of the instruction components below and type over it without changing the font type,
AuthorPreferred Customer
Last Modified Bymaryann.ball
File Modified2010-07-12
File Created2010-07-12

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