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Article: Farm Service Agency Amends Rules for Loans to Farmers

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Targeted News Service
Article date:
December 9, 2008
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NewsWatch Native America

NewsWatch Native America

WASHINGTON, Dec. 9 - The U.S. Agriculture Department's Farm Service Agency has issued a final rule that raises the maximum amount for direct farm operating loans and makes the beginning farmer downpayment loan program available to socially-disadvantaged farmers while reducing the size of the required downpayment.

The amended rule is effective Jan. 9.

"FSA loan applicants are often beginning farmers and socially disadvantaged farmers who do not qualify for conventional loans because of insufficient net worth or established farmers who have suffered financial setbacks due to natural disasters or economic downturns. FSA loans are tailored to a ...

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