the Northern Mariana Islands, in rural areas other than a city, having a population of fifty thousand or more and its immediately adjacent urbanized and urbanizing area with a population density of more than one hundred persons per square mile, as determined by the Secretary of Agriculture according to the latest decennial census of the United States. In addition to the eligible locations for direct loans, applicants for guaranteed loans may also be located in the Republic of Palau, the Federated States of Micronesia, and the Republic of the Marshall Islands. Preference is given to loans in open country, rural communities and towns with populations of 25,000 or less, and, on applications of equal priority, to veterans. Applicants must be U.S. citizens or reside in the U.S. after being legally admitted for permanent residence and, if corporations, at least 51 percent owned by such individuals. Beneficiary Eligibility: Beneficiaries include cooperatives, corporations, partnerships, trust or legal entities organized and operated for profit or nonprofit, Federally recognized Indian Tribal Governments and individuals in rural areas of less than 50,000 population. Credentials/Documentation: Evidence of legal capacity, economic feasibility and financial responsibility relative to the activity for which assistance is requested. This programs are excluded from coverage under OMB Circular No. A-87. APPLICATION AND AWARD PROCESS:
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