U.S. Department of Agriculture Farm Service Agency in Georgia to Host Information Sessions on Farm Loans

                                                                                                                                                                                                                                                                                         Contact: Jay.Ivey@usda.gov
                                                                                                                                                                                                                                                                                         706-510-5318

ATHENS, Ga., Jan. 8, 2024 – The U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) Georgia State Executive Director, Arthur Tripp, Jr., invites agricultural producers to attend one of several Farm Loan Information Sessions to learn more about the capital assistance options available to start, expand, or enhance an agricultural operation. Tripp and FSA staff will provide an overview of current USDA farm loan programs and how to apply. The in-person information sessions are free and open to the public. Producers planning to attend a session should email GAOutreach@usda.gov to RSVP or for any questions. 

“It is critical that our producers know their options and the ways in which the USDA can assist them in meeting their operational goals,” said Tripp. “By hosting these information sessions, we are helping ensure that producers in Georgia have the information and tools they need to successfully navigate our suite of capital assistance options." 

Below are the details for each Farm Loan Information Session:

Date: January 17, 2024

Time: 10:00 AM

Location: Tift County USDA Service Center 1468 Carpenter Rd S, Tifton, GA 31793

Date: January 17, 2024

Time: 2:00 PM

Location: Terrell County USDA Service Center 955 Forrester Dr, Dawson, GA 39842

Date: January 18, 2024

Time: 10:00 AM

Location: Miller County Extension Office 406 W Crawford Street Colquitt, Ga 39837

Date: January 18, 2024

Time: 2:00 PM

Location: Colquitt County USDA Service Center 350 Veterans Pkwy N Bldg 3, Moultrie, GA

Direct and Guaranteed Loans

Direct loans are made to applicants by FSA. Guaranteed loans are made by lending institutions who arrange for FSA to guarantee the loan. FSA can guarantee up to 95 percent of the loss of principal and interest on a loan. The FSA guarantee allows lenders to make agricultural credit available to producers who do not meet the lender’s normal underwriting criteria.

The direct and guaranteed loan program offers two types of loans: farm ownership loans and farm operating loans.

Farm ownership loan funds may be used to purchase or enlarge a farm or ranch; purchase easements or rights of way needed in the farm’s operation; build or improve buildings such as a dwelling or barn; promote soil and water conservation and development; and pay closing costs.

Farm operating loan funds may be used to purchase livestock, poultry, farm equipment, fertilizer, and other materials necessary to operate a farm. Operating loan funds can also be used for family living expenses; refinancing debts under certain conditions; paying salaries for hired farm laborers; installing or improving water systems for home, livestock or irrigation use; and other similar improvements.

Repayment terms for direct operating loans are scheduled from one to seven years. Financing for direct farm ownership loans cannot exceed 40 years. Interest rates for direct loans are set periodically according to the government’s cost of borrowing. Guaranteed loan terms and interest rates are set by the lender.

Interest rates for Direct Loans approved for January 2024 are as follows:
   •   Farm Operating – Direct: 5.625 percent
   •   Farm Ownership – Direct: 5.875 percent

More Information

FSA has a variety of loans available, including direct farm ownership and operating loans, guaranteed farm ownership and operating loans, emergency loans, and the Farm Storage Facility Loan Program. For more information on FSA programs and resources, producers should contact their local USDA Service Center.

Special Accommodations

Persons with disabilities who require special accommodations to attend or participate in this meeting should contact Haylie Haines at (706) 552-2506.

USDA touches the lives of all Americans each day in so many positive ways. Under the Biden-Harris administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy, and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America. To learn more, visit usda.gov.