A bill to create a Rural Capital Access Program within the Department of Agriculture to encourage lending institutions to provide loans to certain businesses, and for other purposes.
Rural Capital Access Act of 1989 - Directs the Secretary of Agriculture to: (1) establish the Rural Capital Access Program to provide financial institutions with incentives to make rural business loans; and (2) establish the Rural Capital Access Fund to serve as a protective reserve account for such institutions.
Authorizes FY 1990 through 1994 appropriations.
Allocates State funds on the basis of rural population.
Limits eligible loan amounts to $3,000,000.
Sets forth program provisions, including initial program incentives of additional Federal contribution amounts and payment of claims with future contributions.
Similiar Provisions Included In H.R.4793 (Title III).
Introduced in Senate
Read twice and referred to the Committee on Agriculture.
Committee on Agriculture. Provisions of measure incorporated into measure S. 1036 ordered to be reported.
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