July 17, 2009
It was announced Thursday that $760 million from the Supplemental Appropriations Act signed by President Obama is available for approved but previously unfunded U.S. Department of Agriculture Direct Farm Ownership and Operating Loans throughout the country.
Producers can use Direct Farm Ownership Loans to buy farmland, construct or repair buildings and other fixtures and promote soil and water conservation. Operating Loans may be used to purchase items such as livestock, farm equipment, feed, seed, fuel, farm chemicals, insurance and other operating expenses. Operating Loans can also be used to pay for minor improvements to buildings, costs associated with land and water development, family subsistence and to refinance debts under certain conditions. The maximum amount for either type of loan is $300,000.
Producers interested in applying for direct loans or other Farm Service Agency (FSA) products should visit their local FSA county offices. For more information, visit www.fsa.usda.gov