One of the Farm Service Agency's best kept secrets is the
Farm Storage Facility Loan Program. The program has expanded beyond its origins
of providing low-interest financing options for commodity crop storage to
offering low-interest financing for a wide array of specialty crop storage and
handling facilities. The best news is the "not able to get credit
elsewhere" criteria for most of FSA's loan programs doesn't apply to the
Farm Storage Facility Loan Program.
If you have been contemplating how to pay for storage or
handling equipment or facilities to meet food safety regulations, this program
may be the option for you. Or, if you
are just expanding or diversifying your operation, the program may offer the
financing you need. Eligible crops and
products include everything from alfalfa to yogurt.
The maximum loan amount is $500,000 per loan request. Loan terms are seven, ten or 12 years
depending on the loan amount. As of the last week in February, the annual interest
rate was 2% to 2.25% depending on the term of the loan. A $100 application fee is required.
If you are
interested in a Farm Storage Facility Loan, contact your county
FSA office before starting any construction. Learn more about the program at your county
FSA office or view the online Farm
Storage Facility Loan fact sheet.
USDA recognizes the service that veterans have made to
America. In return, American taxpayers,
through USDA, offer veterans special preferences. If you are a recent veteran, you may be
eligible for special preference when seeking financial assistance through FSA
loan programs. Additional benefits may
be available to you as a beginning farmer.
Other USDA agencies also have veteran preferences for some
programs and veterans receive preferential federal hiring. USDA has consolidated information about
resources available for veterans in a single location on the USDA website - https://newfarmers.usda.gov/veterans.
Non-profit organizations have formed to assist veterans transition from
the battlefield to the farm. Some of
these organizations are:
Growing Veterans - Combining veteran reintegration with sustainable
agriculture. Located in Lynden, WA (Whatcom Co.) with connections in
King, Thurston, Snohomish counties. http://growingveterans.org/.
Vets on the Farm/Spokane
Conservation District - Transitioning veterans into civilian life and careers
in agriculture. https://www.facebook.com/VetsOnTheFarm
Farmer Veteran Coalition -
The mission of the Farmer Veteran Coalition is to mobilize veterans to feed America,
cultivating a new generation of farmers and food leaders. http://www.farmvetco.org/
Homegrown by Heroes - Helps
veterans market their agricultural products. http://hgbh.org/
To learn more about the FSA programs contact your county
FSA office.
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