Higher limits now available on USDA farm loans
Higher limits are now available for borrowers interested in U.S. Department of Agriculture farm loans, which help agricultural producers purchase farms or cover operating expenses.
The 2018 Farm Bill increased the amount that producers can borrow through direct and guaranteed loans available through USDA’s Farm Service Agency and made changes to other loans, such as microloans and emergency loans.
“As natural disasters, trade disruptions, and persistent pressure on commodity prices continue to impact agricultural operations, farm loans become increasingly important to farmers and ranchers,” Farm Service Agency Administrator Richard Fordyce said.
Among the key changes: the Direct Operating Loan limit increased from $300,000 to $400,000, and the Guaranteed Operating Loan limit increased from $ 1.429 million to $1.75 million. Further details are available at fsa.usda.gov on the web.
