Forestry Loan Act of 1981

[AI summary unavailable — showing source text] Forestry Loan Act of 1981 - Directs the Secretary of Agriculture to conduct a five-year pilot program of financial assistance to nonindustrial owners of private forest land which shall provide for the guaranteeing of loans under which periodic loan disbursements shall be made to eligible landowners. Limits the cumulative total of principal and interest on such loans to $50,000,000. Declares eligible for such program any private individual, group, Indian Tribe or other native group, association, partnership, corporation or other legal entity which owns forest land capable of producing crops of industrial wood, if such person: (1) owns less than 1,000 acres of land capable of producing industrial wood (except in specified circumstances); (2) is not principally engaged in the manufacture of wood products; and (3) certifies in writing that such person is unable to obtain sufficient credit elsewhere at comparable rates and terms. Authorizes the Secretary to guarantee 90 percent of that portion of the overall loan obligation which exceeds the market value of the assets securing such loan. Bases the amount of the periodic loan disbursement upon the projected market value of the timber sec…