Available USDA Farm Loans
A wide variety of loans are now available under the USDA FSA Farm Loan Program. Farm ownership, operating, and conservation loans are available under the Guaranteed Loan Program. Farm ownership, operating, emergency, and conservation loans are available under the Direct Loan Program. FSA offers two types of guarantees under the Land Contract Guarantee Program.
Applicants unable to qualify for a guaranteed loan may be eligible for a direct loan. The maximum award for a direct farm operating loan is $300,000. FSA also provides Microloans, which are direct operating loans designed to meet the unique financial operating needs of many socially disadvantaged and beginning farmers, niche farm operations, the smallest of family farm operations, and those serving local and regional food markets, including urban farmers. The maximum for a Microloan is $35,000.
If you are interested in finding out more about the loan program , visit http://www.fsa.usda.gov/FSA/webapp?area=home&subject=fmlp&topic=landing.
The USDA Farm Service Agency’s (FSA) Land Contract (LC) Guarantee Program “is an underutilized opportunity for beginning farmers to get started and retiring farmers to transition,” said Jim Radintz, Assistant Deputy Administration of Farm Loan Programs. The program provides landowning farmers a financial safeguard if they self-finance the sale of their land to a beginning farmer. A “beginning farmer” substantially participates in farm operations but has not operated a farm or ranch for more than 10 years and does not own a farm or ranch greater than 30 percent of the median size farm in his or her county.
To continue, please see: http://agtogo.blogspot.com/2013/12/fsas-land-contract-guarantee-program.html
SDA Farm Service Agency’s (FSA) Microloan (ML) program helps farmers with smaller operations, especially beginning farmers and farmers serving local and regional markets, access credit. The loans can be used to cover a wide variety of expenses, including start up costs, annual expenses, land rents, minor improvements to the farm, and expenses from expansion, marketing and efficiency enhancements. USDA introduced the ML program in January 2013. AgToGo emailed Chris Beyerhelm, FSA’s Deputy Administrator for Farm Loan Programs, about the program.
To continue, please see: http://agtogo.blogspot.com/2013/12/fsa-microloans-for-beginning-and-niche.html