Conservation Loan Program

Conservation Loan Program - Guaranteed Loan

FSA2236INS_08-18-08

Conservation Loan Program

OMB: 0560-0269

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FSA-2236 Date of Modification: (08-18-08)



GUARANTEED LOAN CLOSING REPORT

Transaction 4030

INSTRUCTIONS FOR PREPARATION

Purpose:

Used by lenders for (1) each loan at the time the guarantee is issued, (2) payment of guaranteed loan fees, and (3) consolidation of guaranteed loans. The Guaranteed Loan Closing Report must accompany all guarantee fee payments.


Handbook Reference:

2-FLP

Number of Copies:

Original and one copy.

Signatures Required:

Lender and Agency official

Distribution of Copies:

Original to Agency servicing official. Copy retained by lender.

Automation-Related Transactions: GLS - Add Loan Closing



Lenders complete Items 1 through 34.



Fld Name /
Item No.

Instruction

1

FSA Account Number

Enter Borrower’s FSA account number. Enter the state and county code and the borrower’s system generated FSA ID number.

2

Borrower’s Name and Address

Enter Borrower’s Name and Address.

3

Borrower Type Code

Enter applicable Borrower’s Type Code. Example:


1 = Individual

2 = Corporation

3 = Proprietorship

4 = Cooperative

5 = Public Body

6 = Partnership

7 = Other

8 = Indian Tribe

9 = Trust

10 = Limited Partnership

11 = Association of Farmers

12 = Organization of Farm Workers

13 = Joint Operation

4

Lender’s ID No.

Enter the lender’s ID number.

5

Lender’s Status Code

Enter the applicable Lender Status Code. Example:


1 = Reserved

2 = Eligible

3 = Certified

4 = Preferred

6

Lender Type Code

Enter the applicable Lender type Code. Example:


1 = Commercial Bank

2 = Mortgage Loan Co.

3 = Insurance Co.

4 = Production Credit

5 = Federal Land Bank

6 = Credit Union

7 = Savings & Loan

8 = Banks for Coops

9 = Small Business Investment Co.

10 = Broker

11 = Other

12 = Non-Traditional

7

Certification Effective Date

Enter the date the lender’s certification became effective. Completed only if Lender’s Status Code (Item 5) is 3.

8

Certification Expiration Date

Enter the date the lender’s certification expires. Completed only if Item 7 is completed.

9

Lender’s Name and Address

Enter lender Name and Address.

10

Servicing Office



Enter applicable state and county code (i.e. 01-300).

11

Source of Fund

Enter the applicable Source of Funds code. Example:


1 = New Guaranteed Loan (includes all loan types)

2 = Reserved (used for Direct Loan programs)

3 = Reserved

4 = Reserved

5 = Consolidation of Guaranteed Loans Without Interest

Assistance

6 = New Guaranteed Farm Loan Program Loan (FLP) with

Interest Assistance

12

Guarantee Fee Purpose Code

Enter the Guarantee Fee Purpose Code.


3 = Initial Closing Fee

5 = Consolidation (No Fee on Consolidated Loans)

7 = Initial Closing—No Fee


NOTE: If consolidating loans (Item 12 equals 5), all loans must be closed. This form will not close and consolidate loans at the same time.

13

Fee Rate

Reserved – Leave Item Blank.

14

Amount of Guarantee Fee Paid

Enter amount of Guarantee Fee to be Paid with this report.


Loan Amount x 1% x % Guarantee


There is no fee required. Leave Item 14 blank.


Item 12 equals 5 (Consolidation)


Item 12 equals 7 (Initial Closing—No Fee)

15

Amount of Loan-Line of Credit

Enter the amount of loan as follows:


Enter the full amount of the loan for new loans or ceiling for line of credit.


NOTE: THE AMOUNT ENTERED IN THIS Item MUST MATCH THE AMOUNT OBLIGATED.

16

Advance Amount to Date


Enter amount advanced at date of loan closing. If the loan is fully advanced, enter amount of loan. If a line of credit, enter current unpaid principal balance. If no advances have been made, enter 0.00.

17

Closing Date


Enter the closing date. The date will be the date of loan for new loans.

18

Maturity Date of Loan

Enter the maturity date of the loan.

19

Term of Interest Assistance Years

For Farm Loan Program loans with Interest Assistance only, enter the term or length of the Interest Assistance Program in years. Must equal 1-5. Leave blank for all other loans.

20

Percent of Loan Guaranteed

Enter the percent of loan guarantee as determined by Agency Instructions.

21

Lender’s Note Interest Rate Guaranteed Portion

Enter the lender’s interest rate on the guaranteed portion of the loan prior to any interest rate reduction interest assistance, or subsidy.

22

Lender’s Note Interest Rate on Nonguaranteed Portion

Enter the rate that will be used to compute the interest charged to the borrower on the non-guaranteed portion of the note prior to any interest rate reduction interest assistance, or subsidy.

23

Interest Assistance Rate


Enter 4.0, if applicable, otherwise leave blank.

24

Period of Operating Line of Credit

For Farm Loan Program Operating Lines of Credit only (Type of Guarantee in Item 26 is input as 1), enter the length of the operating line of credit in years. Must equal 1, 2, 3, 4, or 5. Leave blank if Type of Guarantee in Item 26 is input as 2.

25

Reserved

Reserved.

26

Type of Guarantee

Enter the applicable type of guarantee. Line of credit loans are coded 1; all others are 2.

27

Interest Basis

Enter the interest basis. (number of days: 360 or 365).

28

Interest Rate Code

Enter the applicable interest rate code.

29

Balance Owed on Loan

Reserved – Leave Item Blank.

30

Date Guarantee Period Begins

Reserved – Leave Item Blank.

31

Date Guarantee Period Ends

Reserved – Leave Item Blank.

32

Annual Review Date

Enter the First Annual Review Date on this loan (FLP Loans with Interest Assistance Only) For Annual Payment loans, this should be the First Annual Payment Due Date. For all other loans, this will be the date established by the lender as being the last day of the first period of interest assistance and will be the date in block 23 in the Interest Assistance Agreement, or FSA-2221. This date must be no more than 12 months from the closing date of the note. Once established, all future claims and reviews will be made effective on the anniversary of this date each year.

33

Certified Loan

Reserved – Leave Item Blank.

34A

Signature of Authorized Lender’s Representative

Enter the authorized lender’s signature. THIS FORM WILL BE RETURNED IF IT IS NOT SIGNED.

34B

Title

Enter the title of the person authorized to sign this form.

34C

Date

Enter the date signed by the lender’s representative.

35

Guaranteed Loan Number

Enter the loan number from the GLS Add Loan Closing Screen or the GLS Loan View Screen.

36

Obligated Loan Number

Enter the obligation loan number. Example: 52/01 (The 01 is the obligation loan number).

37

Branch Number

Enter the Agency assigned lender branch number. Verify that this branch number is correct for the name and address shown in Item 9 using the GLS Lender List.

38

Date of Deposit

Finance Office will enter the deposit date for corrections to the deposit fund.

39A

Name of Agency Official

Print the name of the agency official.

39B

Title




Print the title of the agency official.

39C

Signature of Agency Official

Enter the agency official’s signature.

39D

Date

Enter the date signed by the agency official.


Page 6




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