Farm Service Agency: Financial assistance and business planning loans available

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From the Valley Courier:

Farm Ownership Loans may be used to purchase a farm, enlarge an existing farm, construct new farm buildings and/or improve structures, pay closing costs, and promote soil and water conservation and protection. Eligible applicants may obtain direct loans up to a maximum indebtedness of $300,000. Maximum indebtedness for guaranteed loans is $1,094,000 (amount adjusted annually for inflation). The maximum repayment term is 40 years for both direct and guaranteed farm ownership loans.

Farm Operating Loans may be used for normal operating expenses, machinery and equipment, real estate repairs, and refinancing debt. Eligible applicants may obtain direct loans for up to a maximum indebtedness of $300,000, and guaranteed loans for up to a maximum indebtedness of $1,094,000 (amount adjusted annually for inflation).

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