Direct Farm Ownership Loan Program still available for Texas agriculture producers
Aug. 12, 2014 at 6:27 p.m.
Farmers and ranchers can still apply for low-interest 2014 loans available through Farm Service Agency's direct farm ownership program, according to Department of Agriculture officials.
Judith A. Canales, Texas Farm Service Agency executive director, said the deadline to submit applications is Sept. 30.
Eligible producers can borrow up to $300,000 in direct farm ownership loans to buy or enlarge a farm, construct new farm buildings or improve structures, pay closing costs or promote soil and water conservation and protection. The interest rate on select loans can be as low as 1.5 percent with up to 40 years to repay.
"This is an extraordinary opportunity for more farmers and ranchers to get low-interest loans to start their first farm or expand an existing family farm," said Canales. "There are no backlogs or waiting for funding. If you've dreamed about starting a farm or if you're looking to strengthen your farm, we want to help."
All interested applicants are encouraged to apply for direct farm ownership loans. For more information about the program and other loans administered by the Farm Service Agency, visit any Farm Service Agency county office or fsa.usda.gov.