USDA Expands Microloans to Help Farmers Purchase Farmland and Improve Property
On January 19, 2016, Agriculture Deputy Secretary Krysta Harden announced that the U.S. Department of Agriculture (USDA) will begin offering farm ownership microloans, creating a new financing avenue for farmers to buy and improve property. These microloans will be especially helpful to beginning or underserved farmers, U.S. veterans looking for a career in farming, and those who have small and mid-sized farming operations.
“Many producers, especially new and underserved farmers, tell us that access to land is one of the biggest challenges they face in establishing and growing their own farming operation,” said Harden. “USDA is making it easier for new farmers to hit the ground running and get access to the land that they need to establish their farms or improve their property.”
Microloans will be now available to help with farm land and building purchases, and soil and water conservation improvements. This microloan announcement is another USDA resource for America’s farmers and ranchers to utilize, especially as new and beginning farmers and ranchers look for the assistance they need to get started.
To learn more about the FSA microloan program visit www.fsa.usda.gov/microloans, or contact your local FSA office. To find your nearest office location, please visit http://offices.usda.gov.
Find the full news release here.