LUCASVILLE — Scioto-Pike Executive Director Latham Farley reminds interested applicants that the Farm Service Agency (FSA) offers loans for farmers to purchase farmland and finance agricultural operations.
FSA loan programs are designed to help producers who are temporarily unable to obtain private or commercial credit. In many cases, applicants are beginning farmers who have insufficient net worth to qualify for financing through a commercial lender. In other instances, applicants might have suffered setbacks from natural disasters or might be persons with limited resources.
FSA makes two different types of loans, direct and guaranteed. Farm ownership loans or farm operating loans may be obtained as direct loans for a maximum of up to $300,000. Guaranteed loans (loans made by a commercial lender where FSA acts as guarantor) can reach a maximum indebtedness of $1,119,000. Emergency loans are a type of direct loan for farmers who may have suffered physical or production losses in disaster areas designated by a Presidential or Secretarial disaster declaration. Rural Youth Loans, Loans to Beginning Farmers and loans for Socially Disadvantaged Applicants are other types of direct loans also available through FSA.
For more information on loans or eligibility, please contact the Scioto-Pike USDA Farm Service Agency at 740-259-3075, or firstname.lastname@example.org.