The Farm Service Agency (FSA) has introduced new rules to make it easier for farmers and ranchers to get and use farm loans. These changes will help them make more money and invest in their farms. FSA is working to make these loan programs easier to access and use, especially for those who need it most.
Key updates include a new low-interest program for those struggling financially, flexible repayment options to help build savings, and reduced requirements for loan security. These changes are designed to make it easier for farmers to manage their finances and invest in their future.
The new rules were developed with feedback from farmers and are expected to improve the loan program's performance and benefit borrowers.
Resources:
Fact Sheet – Enhancing Program Access and Delivery for Farm Loans Rule
Chinese (Simplified) | Hmong | Korean | Punjabi | Spanish | Thai | Vietnamese
Fact Sheet – Distressed Borrower Set-Aside Program
Chinese (Simplified) | Hmong | Korean | Punjabi | Spanish | Thai | Vietnamese
Video - https://youtu.be/jZzJafV7wEo
August 7 News Release - USDA Updates Farm Loan Programs to Increase Financial Freedom, Resilience and Profitability for Agricultural Producers
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