| ELIGIBILITY REQUIREMENTS |
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· Functional Categories |
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Forestry
Commercial Fisheries
Rural Community Development
Recreation
Site Acquisition
Facilities, Planning, Construction, and Equipment
Rural Housing
Construction Rehabilitation
Recreation |
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· Applicants |
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Individual/Family
Specialized Group (Health Professional, Student, Veteran)
Profit Organization |
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· Applicant Eligibility |
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An applicant must: (1) Not have caused a loss to the Agency after April 4, 1996, or received debt forgiveness on more than 3 occasions prior to April 4, 1996 to receive a guaranteed loan; (2) be unable to obtain suitable credit from other sources at reasonable rates and terms; (3) be a U.S. citizen or permanent resident and possess the legal capacity to incur the obligations of the loan; (4) have the necessary education and/or experience, training, and managerial ability to operate a family farm; (5) realistically project the ability to repay the loan; (6) be the owner-operator of a not larger than family farm after the loan is closed; and (7) if an individual, the applicant must not have a combined farm ownership, soil and water, and recreation loan indebtedness to FSA of more than $200,000, for direct loans; and $717,000 (amount adjusted annually for inflation) for a guaranteed loan(s), or a combination of direct and guaranteed indebtedness; or a total indebtedness against the property securing the loan(s) of more than the market value of the security, whichever is the lesser amount. If a cooperative, corporation, joint operation or partnership, the entity must be controlled by farmers or ranchers engaged primarily and directly in farming in the U.S., after the loan is made, and must consist of members, stockholders, partners, or joint operators (8) have a minimum of 3 years farming experience. Assistance is authorized for eligible applicants in the 50 States, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and, to the extent the Secretary determines it to be feasible and appropriate, the Trust Territories of the Pacific Islands. Applicants must also comply with the highly erodible land and wetland conservation provisions of Public Law 99-198 of the Food Security Act of 1985 (FSA). To be eligible to obtain a direct loan, a borrower must abide by the Agency's borrower training requirements. Applicants/borrowers requesting guaranteed loan assistance must meet all lender requirements. |
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· Beneficiaries |
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Individual/Family
Specialized group (e.g. health professionals, students, veterans)
Profit organization
Farmer/Rancher/Agriculture Producer
U.S. Citizen |
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· Beneficiary Eligibility |
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Applicants/borrowers are the direct beneficiaries and must meet the applicant eligibility requirements. Families, individuals, and entities who are farmers, ranchers or aquaculture operators are the beneficiaries. |
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· Credentials/Documentation |
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Applicants must prove that credit is not available elsewhere for the requested purpose; and that they possess sufficient training or farm experience. This program is excluded from coverage under OMB Circular No. A-87. |
See AidPage for more information on:
Farm Ownership Loans
Federal Money Retriever® GrantGate®
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