If you need alternatives for 2010 credit sources, USDA’s Farm Service Agency has a variety of lending options for farmers who cannot obtain credit from commercial banks or the Farm Credit System.
These options include:
Direct loans finance land and buildings up to $300,000, with 50 percent coming from elsewhere.
Operating loans finance input purchases and living expenses up to $300,000.
Emergency loans help recover from disaster, restore property, and pay living costs.
Beginning farmers can get direct and guaranteed loans to start up an operation.
FSA loans will help socially disadvantaged farmers buy and operate family farms.
Youth loans of up to $5,000 help ages 10-20 finance income producing enterprises.
In addition, farm storage loans are also now available from FSA which will cover grain storage. The loan limits have been raised to $500,000 and the loan term has been extended from a 7- to a 12-year payoff period. Funds will able be available for the construction stage.
Click here for more details.
Source: The Farm Gate Blog