Agency waiver of training requirements

(a) The Agency will grant a waiver for training in financial management, without further action by the applicant, under the following conditions:

(1) The applicant agrees to complete or submits evidence of successful completion of a course similar to a course approved under section § 764.457 and the Agency determines that additional training is not needed;

(2) The applicant submits evidence which demonstrates to the Agency's satisfaction the applicant possesses experience and training necessary for a successful and efficient operation; or

(3) The applicant's loan was approved through AFT.

(b) If the financial functions of the operation are shared among individual entity members, the Agency will consider the collective knowledge and skills of those individuals when determining whether to waive training requirements.

(c) When considering subsequent loan actions, previous training requirements that have not yet been satisfied may be waived by the Agency should the borrower submit satisfactory evidence in accordance with paragraph (a) of this section.

[91 FR 56756, Sept. 4, 2026]