The Farm Service Agency makes loans to rural youth to establish and operate income producing agriculture projects in connection with their participation in 4-H or FFA.
Projects must be planned and operated with the help of the organization adviser, produce sufficient income to repay the loan and provide the youth with practical business and educational experience.
Loan funds can be used to purchase livestock, equipment, supplies, and/or operating expenses. Examples of common projects are beef cows, dairy cows, sheep or goats, crops and produce.
The maximum loan amount is $5,000. The repayment schedule varies depending on the type of project for which a loan is made.
The youth loan eligibility requirements include:
– Applicant must be between 10 and 20 years of age;
– Be a U.S. citizen;
– Live in a rural area or a town of less than 50,000;
– Must be participating in 4-H or FFA;
– 4-H or FFA adviser must provide a written recommendation for the project;
– Parents or guardian must provide a written recommendation and consent to the project.
Information on Farm Service Agency rural youth loans can be obtained by contacting your local Farm Service Agency county office to setup an appointment with a loan approval official or visit the FSA Web site at www.fsa.usda.gov and click on farm loans.
That’s all for now,