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Farm Service Agency (FSA)
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<blockquote data-quote="TheBullLady" data-source="post: 101725" data-attributes="member: 173"><p>I'm assuming you mean the USDA's loan program? </p><p></p><p>If you're a minority you have a better chance of getting a loan. You have to have been turned down from at least three lenders (you'll have to have letters) you can't own land of your own, and you'll need to have a business plan. The application is about 45 pages long. </p><p></p><p>Since it's government, you may have to reapply if they run out of money for a certain time period. It's a great interest rate.. but your entire operation will be carefully watched by the agency for any "breach" in your contract. And it may take awhile to get your loan. The last one I did took 9 months.</p></blockquote><p></p>
[QUOTE="TheBullLady, post: 101725, member: 173"] I'm assuming you mean the USDA's loan program? If you're a minority you have a better chance of getting a loan. You have to have been turned down from at least three lenders (you'll have to have letters) you can't own land of your own, and you'll need to have a business plan. The application is about 45 pages long. Since it's government, you may have to reapply if they run out of money for a certain time period. It's a great interest rate.. but your entire operation will be carefully watched by the agency for any "breach" in your contract. And it may take awhile to get your loan. The last one I did took 9 months. [/QUOTE]
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