The USDA’s Farm Service Agency is making funding available for targeted under-served groups and beginning farmers through loans.
According to a news release, the loans are designed to help farmers in both groups purchase and operate family farms. The USDA defines as targeted under-served farmer as one of a group that has been subjected to racial, ethnic or gender prejudice because they identify as a member of that group with no regard to their individual qualities. Direct operating loans are used for buying livestock, poultry, farm and home equipment, feed, seed, fertilizer and other materials along with crop insurance, food, clothing, and medical care. Farm ownership loans can be used to purchase or expand a farm, purchase easements or rights of way needed for the farm’s operation, build or tear down buildings, promote soil and water conservation and development and pay closing costs.
Repayment of direct operating loans usually runs from 1-7 years while farm ownership loan repayment periods can be as long as 40 years. Applicants must meet eligibility requirements for a given program. To find out more information, call the local Farm Service Agency office in Indiana at 724-463-8547 extension 2 or head over to their office at 1432 Route 286 East in Indiana.
Comments