USDA today also unveiled a new category of lenders that will
join traditional lenders, such as banks and credit unions, in
offering USDA EZ Guarantee Loans. Microlenders, which include
Community Development Financial Institutions and Rural
Rehabilitation Corporations, will be able to offer their
customers up to $50,000 of EZ Guaranteed Loans, helping to reach
urban areas and underserved producers. Banks, credit unions and
other traditional USDA-approved leaners, can offer customers up
to $100,000 to help with agricultural operation costs.
EZ Guarantee Loans offer low interest rates and terms up to
seven years for financing operating expenses and 40 years for
financing the purchase of farm real estate. USDA-approved
lenders can issue these loans with the Farm Service Agency (FSA)
guaranteeing the loan up to 95 percent.
USDA is providing a 90-day period for the public to review and
comment on program improvements. To review program details,
visit www.regulations.gov, reference RIN 0560-AI34 and follow
the instructions to submit comments.
More than half of all FSA loans go to new farmers and more than
a quarter to underserved borrowers. FSA also offers loans of up
to $5,000 to young farmers and ranchers though the Youth Loan
Program. Loans are made to eligible youth to finance
agricultural projects, with almost 9,000 young people now
participating. More information about the available types of FSA
farm loans can be found at
gov/farmloans or by contacting your local County FSA
office. To find your nearest office location, visit
Please contact your local County FSA Office with any questions
you may have regarding this message.
[USDA Farm Service Agency]
USDA is an equal
opportunity provider, employer and lender. To file a complaint of
discrimination, write: USDA, Office of the Assistant Secretary for
Civil Rights, Office of Adjudication, 1400 Independence Ave., SW,
Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer
Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642
(Relay voice users).