HARRISBURG, Pa. — The U.S. Department of Agriculture (USDA) Pennsylvania Farm Service Agency (FSA) Executive Director, Bill Wehry, announced Aug. 6 that farmers and ranchers still have time to apply for low interest 2014 loans available through FSA’s direct farm ownership program. The deadline to submit applications is Sept. 30, 2014.
Borrow limits
Eligible producers can borrow up to $300,000 in direct farm ownership loans to buy or enlarge a farm, construct new farm buildings or improve structures, pay closing costs, or promote soil and water conservation and protection.
Interest rates
The interest rate on select loans can be as low as 1.5 percent with up to 40 years to repay.
“This is an extraordinary opportunity for more farmers and ranchers to get low-interest loans to start their first farm, or expand an existing family farm,” said Wehry.
FSA encourages all interested applicants to apply for direct farm ownership loans. For more information about the program and other loans administered by FSA, visit any FSA county office or www.fsa.usda.gov.
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