Athens, GA, November 1, 2016 – The Georgia State Farm Service Agency (FSA) announced the availability of direct and guaranteed loan funds for historically underserved individuals who want to purchase or operate a family-size farm in fiscal year 2017.

FSA Targets Funds for Historically Underserved Farmers

Contact: David Laster
David.laster@ga.usda.gov
706-546-2166

FSA Targets Funds for Historically Underserved Farmers

Athens, GA, November 1, 2016 – The Georgia State Farm Service Agency (FSA) announced the availability of direct and guaranteed loan funds for historically underserved individuals who want to purchase or operate a family-size farm in fiscal year 2017.

In Fiscal year 2016, which ended September 30, 2016, Georgia Farm Loan Programs made 218 direct and guaranteed loans to historically underserved farmers totaling more than $24.57 million. Thus far in Fiscal year 2017, FSA has provided more than $1.08 million in loans to historically underserved applicants.

“The targeted financing is for those individuals who have been subjected to racial, ethnic or gender inequality without regard to their individual qualities. Historically underserved members include women, African Americans, American Indians, Hispanic, Asian and Pacific Islanders and Alaskan Natives,” said Fred Harrison, Jr., State Executive Director of the Georgia Farm Service Agency.

The program provides direct and guaranteed assistance in the form of farm operating and farm ownership loans. Direct loan applications are originated and processed for applicants by the local FSA staff. Guaranteed loans are issued by participating lending institutions, but typically 90 percent of the loan is guaranteed by FSA.

Operating loans may be used to purchase livestock, equipment, feed, seed, and other business related expenses. Repayment terms run from one to seven years.

Ownership loans provide capital to purchase or enlarge a farm, construct or improve buildings, promote soil and water conservation and pay closing costs. Direct ownership loan terms are up to 40 years. Guaranteed loan terms are established by the lender.

Qualified applicants are provided information and assistance to develop sound management practices,  analyze problems and utilize available resources essential for successful farming operations to cope with the changing agricultural environment. Loan applicants do not receive automatic approval. Applicants must be U.S. citizens with a satisfactory history of meeting credit obligations; have sufficient education, training or experience managing or operating a farm; possess legal capacity to incur debt; be unable to obtain credit elsewhere; and meet certain other eligibility requirements.

Contact your local FSA County Office or USDA Service Center for more loan information. You may find the local office phone number listed under the blue or government pages of your local telephone directory.  

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).