USDA makes loans to producers to build or upgrade farm storage and handling facilities. Since the beginning of the program, Virginia FSA has extended low interest credit in the amount of nearly $5 million dollars.
Loans are made for on-farm facilities for commodities produced on the farm. In addition to loans for grain bins, FSA lends for construction of and upgrades to hay storage structures, renewable biomass storage, and cold storage equipment and structures for fruits and vegetables.
The maximum loan amount is 85% of the net cost, up to $500-thousand. Loan terms of 7, 10, or 12 years are available, and dependent on the loan amount.
To apply for a Farm Storage Facility Loan, or for more information visit your local FSA Service Center.