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Farm Service Agency (FSA)
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<blockquote data-quote="flbullrider" data-source="post: 101967" data-attributes="member: 1834"><p>The FSA has the Beginning Farmer/Rancher Program which I looked into last year. It might work for some people - with the resitrictions on price and property size I couldn't make the numbers run for a profitable full time operation.</p><p></p><p>This program will make a direct loan to a qualified individual of up to 40% of the farm purchase price at 4% fixed over 15 years. The appraised value or purchase price of the property can't exceed $250K (whichever is lower), and the property size can't exceed 30% of the average farm size in the community.</p><p></p><p>Also have heard through the grapevine FSA's budget got SLASHED, so this might not even be availible anymore.</p><p></p><p>More details at:</p><p></p><p><a href="http://www.fsa.usda.gov/pas/publications/facts/html/begloan04.htm" target="_blank">http://www.fsa.usda.gov/pas/publication ... loan04.htm</a></p><p></p><p>Another rumor I've heard when it comes to borrowing from the USDA in general, particularly operating loans, is if you fall behind or they suddenly determine your operation isn't viable, the USDA can compel the sale barns to cut 2 party checks, so ya have to send the check to the USDA to endorse before you can cash it. Anybody have an experience with this?</p><p></p><p>Mike Bishop - <a href="http://www.flbullrider.com" target="_blank">http://www.flbullrider.com</a></p></blockquote><p></p>
[QUOTE="flbullrider, post: 101967, member: 1834"] The FSA has the Beginning Farmer/Rancher Program which I looked into last year. It might work for some people - with the resitrictions on price and property size I couldn't make the numbers run for a profitable full time operation. This program will make a direct loan to a qualified individual of up to 40% of the farm purchase price at 4% fixed over 15 years. The appraised value or purchase price of the property can't exceed $250K (whichever is lower), and the property size can't exceed 30% of the average farm size in the community. Also have heard through the grapevine FSA's budget got SLASHED, so this might not even be availible anymore. More details at: [url=http://www.fsa.usda.gov/pas/publications/facts/html/begloan04.htm]http://www.fsa.usda.gov/pas/publication ... loan04.htm[/url] Another rumor I've heard when it comes to borrowing from the USDA in general, particularly operating loans, is if you fall behind or they suddenly determine your operation isn't viable, the USDA can compel the sale barns to cut 2 party checks, so ya have to send the check to the USDA to endorse before you can cash it. Anybody have an experience with this? Mike Bishop - [url=http://www.flbullrider.com]http://www.flbullrider.com[/url] [/QUOTE]
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