Guaranteed Farm Loan Programs

FSA-2241 Date of Modification: 07-02-2020

GUARANTEED FARM LOAN STATUS REPORT
INSTRUCTIONS FOR PREPARATION
Purpose: Guaranteed lenders use this form to update the status of each borrower’s loan(s) and to keep data for all guaranteed loans up to date in the Agency’s accounting records.
Handbook Reference: 2-FLP	Number of Copies: Original
Signatures Required: Lender
Distribution of Copies: Original to FSA servicing office.
Automation-Related Transactions: GLS

Lenders must complete items 1 through 36.

Items 1-36

Fld Name / Item No.	Instruction
1 Guaranteed Farm Loan Status Report As Of_____	Enter the effective date of the figures provided on this form. This form is due to FSA from lenders as of March 31, and September 30 of each year.
2 FSA ID Number	Enter the borrower’s FSA ID number (state code, county code and the borrower’s system generated FSA ID number).
3 Borrower’s Name	Enter the borrower’s name of record.
4 Lender’s ID Number	Enter the lender’s ID number.
5 Lender’s Branch Number	Enter the lender’s FSA branch number. This number is assigned by FSA based on the number of the lender’s branches that make and service FSA guaranteed loans. It is available from the previous FSA-2241 or FSA-2236, Guaranteed Loan Closing Report.
6 Lender’s Name	Enter the lender’s name.
7 Please submit …	Enter the mailing address of the FSA office where the form is to be sent.
8 Lender’s Loan Number	Enter the lender’s loan number.
9 Date of Loan	Enter the date that the loan was originally closed.
10 Loan Amount	Enter the amount of the original loan.
11 Date of Last Update	Enter the effective date of the previously submitted Form FSA-2241.
12 Agency Loan Number	Enter the FSA loan number. The borrower’s first FSA guaranteed loan is number 50.
13 Loan Type	Enter the type of loan. Examples are OL, for operating loan; OL, LOC, for lines of credit; and FO, for farm ownership loans; and CL for conservation loans.
14 Unpaid Principal	This entry is optional for lenders completing this form. Enter the unpaid principal balance from the previous status report.
15 Unpaid Interest	This entry is optional for lenders completing this form. Enter the unpaid interest balance from the previous status report.
16 Lender’s Interest Rate Guaranteed	This entry is optional for lenders completing this form. Enter the rate of interest that was being charged on the guaranteed loan as of the previous status report.
17 Lender’s Interest Rate Non-guaranteed	This entry is optional for lenders completing this form. Enter the interest rate on the nonguaranteed portion of the loan as of the previous status report.

Fld Name / Item No.	Instruction
18 Amount Advanced During the Current Reporting Period	Enter the amount advanced during this current reporting period, if any.
19 Date of Last Advance	Enter the date of the last advance, if any.
20-22	Leave blank.
23 Unpaid Principal	Enter the unpaid principal balance as of the date entered in Item 1. If an estimated loss claim has been previously paid, and if the unpaid principal balance is less than line #40 Basic Loss on the estimated loss claim, then enter the basic loss amount.
24 Unpaid Interest	Enter the unpaid interest balance as of the date entered in Item 1.
25 Lender’s Interest Rate Guaranteed	Enter the rate of interest that is being charged on the guaranteed portion of the loan.
26 Lender’s Interest Rate non-guaranteed	Enter the interest rate on the non-guaranteed portion of the loan.
27 Amount Advanced During the Current Reporting Period	Enter amount of advances made since previous status. Do not include amounts reported as advanced on Form FSA-2236, “Guaranteed Loan Closing Report.”
28 Date of Last Advance	Enter date of last advance. Leave blank if Item 27 is blank or if Item 13 is type other than OL LOC.
29 Terminate	Enter “Y”, if loan has been paid, or if guarantee is no longer desired or necessary. Enter “N” if guarantee is active. Original guarantee should be returned to FSA if “Y” is entered.
30 Loan Sold	Enter “Y” if any portion of the loan has been sold to an investor in the secondary market. Enter “N” if loan is participated or entire loan is held in lender’s portfolio.
31 Payment Status Code	Enter “A” if loan is paid ahead. Enter “B” if loan payment is past due or in non-monetary default (Form FSA-2248 must be prepared and submitted to FSA.). Enter “C” if loan is current.
32	If “A” or “B” is entered in Item 31, enter amount loan is ahead or behind.
33 Authorized Lender’s Signature	An authorized representative of the lender must sign this form.
34 Title	Enter the signing party’s official title.
35 Date	Enter the date that this form is signed.
36 Lender’s Name and Address Changes	Enter any changes to lender’s name and address.

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