Sec. 05.13.04.17. Limitations on Financial Assistance

A. Minimum and Maximum Amount of Financial Assistance.

(1) The minimum amount of an enrolled loan for which assurance may be provided under the Program to a project is $1,000.

(2) The maximum aggregate amount of enrolled loans for any one borrower, or any group of borrowers among which a common enterprise exists, is $1,000,000, unless, pursuant to a written request by a lender, the Secretary (or those authorized officers of the Department that the Secretary may designate in writing) approves a waiver of this maximum on the basis that:

(a) Other potential sources of funds have been sought and clearly are unavailable;

(b) It is not feasible to reduce or increase the size or scope of the project; and

(c) The project serves a high public purpose.

B. For purposes of §A(2) of this regulation, the term "common enterprise" has the meaning stated in 12 CFR 32.