USDA Offers Targeted Farm Loan Funding for Underserved Groups and Beginning Farmers

Maine FarmService Agency (FSA) executive director David Lavway reminds producers that FSA offers specially targeted farm ownership and farm operating loans to underserved applicants as well as beginning farmers and ranchers.

“Each year, a portion of FSA’s loan funds are set aside to lend to targeted underserved and beginning farmers and ranchers,” said Lavway. “Farming and ranching is a capital intensive business and FSA is committed to helping producers start and maintain their agricultural operations.”

During fiscal year 2018 (Oct. 1, 2017, through Sept. 30, 2018), Maine FSA obligated $4.74M in loans to underserved borrowers and beginning farmers and ranchers.USDA defines underserved applicants as a group whose members have been subjected to racial,ethnic or gender prejudice because of their identity as members of the group without regard to their individual qualities. For farm loan program purposes, underserved groups are women,African Americans, American Indians and Alaskan natives, Hispanics and Asians and Pacific islanders.

For details on eligibility and application, read here.