USDA has money to loan to eligible borrowers, apply now

Press Release

Douglas Donner, Farm Loan Manager of USDA’s Farm Service Agency in Bath reminded farmers to apply for their operating or ownership loans today.  According to Mr. Donner, loan funds are available now ? applying early is important so that a loan can be processed and funded timely.

“FSA is committed to providing family farmers with loans to meet their farm credit needs,” said Donner. “If you are having trouble getting the credit you need for your farm, or regularly borrow from FSA, direct and guaranteed loans are available now.”  

Donner suggested that prospective borrowers ask their lender about an FSA loan guarantee if you have had a setback and your lender is reluctant to extend or renew your loan.  He added that most of FSA’s loan programs have special funding available for minority, female and beginning farmers.

“FSA employees will help you complete the necessary application and other forms, and help you understand what information is required, where to find it or who to contact to get it,” said Donner.

Currently, direct loan limits are as follows: Total operating debt cannot exceed $300,000; Total farm ownership debt cannot exceed $300,000; and, total Emergency Loan debt cannot exceed $500,000.  

To find out more about FSA loan programs, contact your local FSA Office.