USDA Loan

The U.S. Department of Agriculture Idaho Farm Service Agency (FSA) Executive Director, Mark Samson, just announced that farmers and ranchers still have time to apply for low interest loans available through the FSA direct farm ownership program. Applications must be approved by Sept. 30, 2015, to take advantage of the funding available. Eligible farmers and ranchers can borrow up to $300,000 to buy farmland, construct or repair buildings, pay closing costs, or promote soil and water conservation. The interest rate can be as low as 1.5 percent with up to 40 years to repay. "If you are thinking about entering the ag industry or expanding your farm or ranch, our direct farm ownership program can help," said Samson. "There are funds available to meet your needs in a timely manner, so give us a call today."

Contact information can be found by selecting Idaho from USDA's Service Center Locator at https://offices.usda.gov ." New farmers and ranchers, military veterans, and underserved farmers and ranchers also are encouraged to apply.  Each year Congress targets 80 percent of available loan funds to beginning and targeted underserved farmers and ranchers.  Targeted underserved groups include American Indians or Alaskan Natives, Asians, Blacks or African Americans, Native Hawaiians, or other Pacific Islanders, Hispanics and women.