With a Direct or Guaranteed Farm Operating Loan through the USDA’s Farm Service Agency, a qualified farmer can purchase or lease items needed for a successful farm operation, such as livestock, farm equipment, feed, seed, chemicals, or other operating expenses.
These loans may also be used to pay for minor improvements to buildings, costs associated with land and water development, and family subsistence, as well as to refinance debt under certain conditions.
To qualify for an operating loan, an applicant must meet certain eligibility requirements which include:
Additionally, the loan applicant must have a satisfactory credit history,
The maximum loan size for a Guaranteed Operating Loan is $1,355,000. For a Direct Operating Loan, the maximum loan size is $300,000.
More information about FSA and the FSA Farm Loan Programs can be found at www.fsa.usda.gov. You may also contact your local FSA office, or the FSA Farm Loan Team at 419-68-4113 or 740-392-0801.
That’s all for now,