Microloans & Oilseed Conference

Microloans & Oilseed Conference

I’m Lacy Gray with Washington Ag Today.

Earlier this week Ag Secretary Tom Vilsack announced a new microloan program from the USDA designed to help small and family operations, beginning and socially disadvantaged farmers and military veterans secure loans under $35,000. Vilsack also talked about the USDA’s efforts to simplify the loan application process.

VILSACK: Currently, the traditional lending opportunities with the USDA requires 17 forms. The microloan program will require only 8 forms to be filled out. Instead of requiring three years of history, we will simply ask for the most recent operating cycle history from the producer.

With the microloan program producers can apply for credit up to $35,000 for up to seven years. This credit can be used in a flexible way to pay for initial start-up expenses such as equipment, land rents, delivery vehicles, utilities, and marketing and distribution expenses. Producers interested in applying for a microloan should contact their local FSA office.

“Golden Opportunities” is the theme for the 2013 WSU Oilseed Production and Marketing Conference being held at the Three Rivers Convention Center in Kennewick January 22 - 23.
Local and national experts will be speaking about oilseed agronomy, economics, processing, end use, and marketing. Livestock and poultry producers have been increasing their use of high protein oilseed meal in their animals’ daily rations, while numerous growers have discovered the benefits of adding an oilseed to their crop rotation - better weed control, higher wheat yield, and a break in disease cycles.

I’m Lacy Gray and that’s Washington Ag Today on the Ag Information Network.