The renovation of an existing agriculture fairground facility was funded in Minnesota with for showing livestock and grain, training in new farming and homemaking techniques, meeting other farm families, and enjoy family-oriented entertainment. This facility is used by Future Farmers of America and Future Homemakers of America for continuing education. This loan allowed for the offering of more modern guest rooms than were available, as well as providing more services more groups. The state or district office of USDA's Rural Development agency makes the loan directly to the applicant. The state office generally has loan approval authority.
Applications are available throughout the year and are accepted on an ongoing basis.
Eligibility is determined within 60 days, and approval determinations are made by the end of that fiscal year. Pre-application reviews and advice also are available through state offices. There is no designated maximum Community Funds Loan amount, although each state may set such limits based on their allocations. However, the maximum term on all loans is 40 years. No repayment period will exceed any statutory limitation on the organization's borrowing authority nor the useful life of the improvement or the facility.