Farm Service Agency offers farm loan funds to women, minorities

The Department of Agriculture, Farm Service Agency receives farm loan funds annually by Congressional Appropriations.

Such appropriation levels may fall short of demand, especially direct farm ownership loan funds, then funds are allocated to states.

There are separate loan funds allocated to SDA and beginning farmer-targeted funds.

An SDA applicant is defined by law as one who is a member of a socially disadvantaged group whose members have been subjected to racial, ethnic, or gender prejudice because of the identity as a member of a group, without regard to their individual qualities.

SDA groups are African Americans, American Indians, Alaskan Natives, Hispanics, Asians, Pacific Islanders, and Women.

Farm Service Agency does not have a specific SDA farm loan program, but rather targets loan funds in existing programs to applicants that meet the definition.

SDA loan applicants must meet all farm loan program requirements.

For individuals who currently farm or are considering starting a farm or ranch, they will need a “Purpose”, a “Plan”, a “Product” and “People”.

The Farm Service Agency, farm loan staff is available to assist applicants with the financial farm plan.

Individuals are encourage to contact the local Farm Service Agency to learn more about the farm loan programs or to obtain a loan application.