Loan Guarantee Commitment


A loan guarantee commitment is a term used in the Federal Credit Reform Act of 1990 (which is title V  of the Congressional Budget Act of 1974). It is defined in section 502(4) of that Act.


Federal Credit Reform Act of 1990

Loan Guarantee Commitment

A loan guarantee commitment is defined in section 502, the definitions section of the the Federal Credit Reform Act of 1990, which is title V of the Congressional Budget Act of 1974, as follows:

sec. 502. definitions.

For purposes of this title—

* * * * * * *

(4) The term “loan guarantee commitment” means a binding agreement by a Federal agency to make a loan guarantee when specified conditions are fulfilled by the borrower, the lender, or any other party to the guarantee agreement.

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