The USDA has announced the availability of a streamlined version of their guaranteed loans that are tailored for smaller scale farms and beginning producers. National Sustainable Ag Coalition Policy Director Ferd Hoefner says the EZ loan program will make it simpler for beginning farmers and ranchers to apply for loans of up to $100,000 to buy farmland or finance agricultural operations.
He says while it’s not a large loan program, it’s one that is valuable and important to help those just getting started in agriculture.
Hoefner says while the EZ loan program may make financing easier to obtain, beginning farmers need to give careful consideration to what’s all involved in starting in the business.
The EZ loans offer low interest rates and terms for up to seven years for financing operating expenses and 40 years for financing the purchase of farm real estate. For more information go to the USDA website.
