The KISS Method of Farm Loans
We’re talking about the “KISS Method” today. The acronym, if you don’t know, is for “keep it simple, stupid,” and while I’m not calling anyone unintelligent, it seems like in some cases a more simplified version is applicable. Such as this…
A new, simplified direct loan application is now available for all producers seeking a direct farm loan from the Farm Service Agency. The new application went from 29 to 13 pages to provide an improved customer experience for producers applying for loans and enables them to complete a more streamlined application.
Producers also have the option to complete an electronic fillable form or prepare a traditional paper application for submission to their local FSA farm loan office.
Coupled with the Loan Assistance Tool released in October of 2022, this simplified application will provide all loan applicants access to information regarding the application process and assist them with gathering the correct documents before they begin the process. The hope is that this’ll help farmers and ranchers submit complete applications and reduce the number of incomplete, rejected, or withdrawn applications.
Producers can explore all available options on all FSA loans at fsa.usda.gov or contact their local Service Center.