Instructions for FSA-2236

Instructions for FSA-2236

GUARANTEED LOAN CLOSING REPORT

Lenders use this form 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.

The lender submits this form and applicable fee to the appropriate Farm Service Agency servicing office.

Customers who have established electronic access credentials with USDA may electronically transmit this form to the USDA servicing office, provided that the customer submitting the form is the only person required to sign the transaction.

Features for transmitting the form electronically are available to those customers with access credentials only. If you would like to establish online access credentials with USDA, follow the instructions provided at the USDA eForms web site.

Lenders complete Items 1 through 34. The balance of the form is completed by the Agency.

Items 1 -34

Fld Name / Item No.	Instruction
1 FSA Account Number	Enter Borrowers 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 valued.
9 Lender’s Name and Address	Enter lender Name and Address.
10 Servicing Office	Enter the 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 Fee Percentage 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: (A) 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. If the interest rate is variable or fixed for less than 5 years, enter 1=Single Variable. If the interest rate is fixed for 5 or more years, enter 2=Single Fixed.
29 Balance Owed on Loan	Reserved – Leave Blank.
30 Date Guarantee Period Begins	Reserved – Leave Blank.
31 Date Guarantee Period Ends	Reserved – Leave 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 Blank.
34A Signature of Authorized Lender 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.

Fld Name /
Item No.

Instruction

FSA Account Number

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

Borrower’s Name and Address

Enter Borrower’s Name and Address.

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

Lender’s ID No.

Enter the lender’s ID number.

Lender’s Status Code

Enter the applicable Lender Status Code. Example:

1 = Reserved

2 = Eligible

3 = Certified

4 = Preferred

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

Certification Effective Date

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

Certification Expiration Date

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

Lender’s Name and Address

Enter lender Name and Address.

Servicing Office

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

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

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.

Fee Rate

Reserved – Leave Item Blank.

Amount of Guarantee Fee Paid

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

Loan Amount x Fee Percentage x % Guarantee.

There is no fee required. Leave Item 14 blank.

Item 12 equals 5 (Consolidation)

Item 12 equals 7 (Initial Closing—No Fee)

Amount of Loan-Line of Credit

Enter the amount of loan as follows:

(A) 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.

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.

Closing Date

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

Maturity Date of Loan

Enter the maturity date of the loan.

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.

Percent of Loan Guaranteed

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

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.

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.

Interest Assistance Rate

Enter 4.0, if applicable, otherwise leave blank.

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.

Reserved

Reserved.

Type of Guarantee

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

Interest Basis

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

Interest Rate Code

Enter the applicable interest rate code.

If the interest rate is variable or fixed for less than 5 years, enter 1=Single Variable. If the interest rate is fixed for 5 or more years, enter 2=Single Fixed.

Balance Owed on Loan

Reserved – Leave Blank.

Date Guarantee Period Begins

Reserved – Leave Blank.

Date Guarantee Period Ends

Reserved – Leave Blank.

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.

Certified Loan

Reserved – Leave Blank.

34A

Signature of Authorized Lender

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.

Items 35 – 37 will be completed by Agency.

Item 38 will be completed by Finance Office.

Items 39A – 39C will be completed by Agency.