Farm Service Agency offers funding
The USDA Farm Service Agency (FSA), which serves multiple counties including Greene and Fayette, has funding available to help farmers purchase and operate family farms.
“With these loan programs, FSA hopes to help reverse the declining number of farmers and ranchers across the United States and especially here in Bedford, Cambria, Fayette, Greene, Somerset and Westmoreland counties,” said Amanda Mosholder, farm loan manager for USDA’s Farm Service Agency. “These loans help encourage and assist them in owning and operating their own farms and ranches, participate in agricultural programs, and become integral parts of the agricultural community.”
Mosholder said the FSA reserves a portion of its loan funds each year for Targeted Underserved Groups. USDA defines a targeted underserved farmer as one of a group whose members have been subjected to racial, ethnic, or gender prejudice because of their identity as members of the group without regard to their individual qualities.
Direct loans are made to applicants by FSA and include both farm operating and farm ownership loans. Repayment terms for direct operating loans depend on the collateral securing the loan and usually run from one to seven years.
Mosholder says the repayment terms for direct ownership loans can be as long as 40 years. Interest rates for direct loans are set periodically according to the government’s cost of borrowing.
Farm operating loans funds may be used to purchase livestock, poultry, farm and home equipment, feed, seed, fuel, fertilizer, chemicals, refinance debts, hail or other crop insurance, food, clothing, medical care and hired labor.
Funds also may be used to install or improve water systems for home use, livestock or irrigation, and other improvements. Individuals, partnerships, joint operations, corporations, and cooperatives primarily and directly engaged in farming and ranching on family-size operations may apply.
Applicants must meet the eligibility requirements for a given program before FSA can extend program benefits.
For additional information or applications for all FSA direct loan programs, contact the local FSA office at 6024 Glades Pike, Suite 102, Somerset, PA, 15501 or 814-445-6174, ext. 2.