scope:

Purpose

This chapter establishes the Department of Defense (DoD) policy and procedures for direct loans and loan guarantees for non-Federal borrowers. The policies and procedures for credit programs reflect the requirements of the Federal Credit Reform Act of 1990, as amended. The major purposes of the Act are to: (a) measure more accurately the costs of Federal credit programs; (b) place the cost of credit programs on a budgetary basis equivalent to other Federal spending; (c) encourage the delivery of benefits in the form most appropriate to the needs of beneficiaries; and (d) improve the allocation of resources among credit programs and between credit and other spending programs.