Operating loans can assist beginning farmers in become prosperous and competitive by helping to pay normal operating or family living expenses; open doors to new markets and marketing opportunities; assist with diversifying operations; and so much more. WHO CAN PARTICIPATE? USDA, through the Farm Service Agency, provides direct and guaranteed loans to beginning farmers and ranchers who are unable to obtain financing from commercial credit sources. A total of approximately $720,000 is … If you have never owned and operated a farm … With the BFF program, Platte Valley Bank can help the beginning Ag producer get started with lower interest rates and reduced equity requirements. Competitive Rates Local Processing Quick Decisions Inquire Now. Agriculture is full of exciting and rewarding opportunities. Each fiscal year, the Agency targets a portion of its direct and guaranteed farm ownership (FO) and operating loan (OL) funds to beginning farmers and ranchers. One of the hardest parts of farming is just getting started. The steps involved in the loan process are as follows: The borrower locates a local participating lending institution and applies for a beginning farmer loan While many of our programs support all farmers, regardless of how long they have been farming, we also offer special provisions just for beginning farmers and ranchers. Our goal is to help you be successful by also helping you navigate the business side of Ag production while giving you the financial tools you need to get started. Seventy percent of these loans have gone to beginning farmers. Young Farmer Loans – Provided to farmers, ranchers and harvesters of aquatic products who are 35 or younger. Beginning Farmer & Rancher Loans. FSA's microloan program, an important access point to credit for some new farmers and ranchers, has issued more than 9,600 microloans totaling $188 million. La Monte Community Bank can finance the purchase of breeding livestock, equipment and real estate for the beginning farmer or rancher. The reasons for the renewed interest in beginning farmer and rancher programs are as follows: the rising average age of U.S. farmers; the 8% projected decrease in the number of farmers and ranchers between 2008 and 2018; and the growing recognition that new programs are needed to address the needs of the next generation of beginning farmers and ranchers. • Business and Industry Guaranteed Loans • Rural Business Development Grants • Value-Added Producer Grants. Find the resources you need to get started or personalize your search with our Discovery Tool. Small Farmer Loans – Farm, ranch or aquatic harvesting operations that gross less than $250,000 in agricultural sales a year. Farmers and ranchers are invited to attend a FREE clinic. The program enables Montana lenders, individuals, partnerships and other entities to receive federally tax-exempt interest from bonds associated with a loan or contract sale made to a beginning farmer or rancher. Loans for the Beginning Farmer or Rancher. FSA – Beginning Farmers and Ranchers Loans. Beginning farmer – a farmer, rancher or producer or harvester of aquatic products who has 10 years or less farming, ranching or aquatic experience as of the loan transaction date. This is accomplished by the issuance of a bond by NIFA, the interest on which is exempt from federal and Nebraska state income tax. Livestock Insurance. The loan and its collateral are assigned to the lender as security for the bond. 2 USDA is an equal opportunity provider, employer, and lender. The Beginning Farmer and Rancher Development Program provides grants to organizations for education, mentoring, and technical assistance initiatives for beginning farmers or ranchers. 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