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TeachMeFinance.com - explain Honey Recourse Loan Program Honey Recourse Loan Program The term 'Honey Recourse Loan Program ' as it applies to the area of agriculture can be defined as ' A program authorized by the emergency provisions of the FY1999 USDA appropriations act (P.L. 105-277, October 21, 1998) that makes recourse loans based on a national average rate of $0.56 per pound on 1998-crop honey. Final date to obtain a loan was May 7, 1999. The producer-owned honey must be merchantable and stored in acceptable containers. Loans carry an administrative fee of $0.009 per pound, bear an interest rate 1% higher than the CCC borrowing interest rate, and mature not later than 9 months following disbursement. The program is administered by the Farm Service Agency'. Previous 5 Terms: Homologous recombination Homology homophobia Homozygote Honey program Next 5 Terms: hook Hook Echo hoplology Hopper horal About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.