Category: Agriculture Financing
Operating loans of up to $5,000 to eligible individual rural youths age 10 through 20. The project must be of modest size, educational, and initiated, developed and carried out by rural youths participating in 4-H clubs, FFA or a similar organization.
An SDA group is a group whose members have been subject to racial, ethnic or gender prejudice because of their identity as members of a group without regard to their individual qualities. These groups consist of American Indians or Alaskan Natives, Asians, Blacks or African Americans, Native Hawaiians or other Pacific Islanders, Hispanics and women.
Targets beginning farmers and ranchers purchasing a farm or ranch; or retiring farmers that are transferring their land to a future generation of farmers and ranchers. Farm Service Agency finances 45% (up to $225,000) of the purchase price and/or the appraised value.
Targets beginning farmers and ranchers who are unable to obtain financing from commercial sources. Must have 3 years of farm/ranch experience. Farm size must not be greater than 30% of the median farm acreage in the county. All entity owners must be related by blood or marriage and must be eligible beginning farmers.
Same fund use as “Direct Farm Operating Loan” except loan may be used to refinance debts. Interest rates under market rate; terms cannot exceed 7 years. Farm Service Agency guarantees up to 95% of the loan, or up to $1,214,000
