Up To $35,000 Now Available in Microloans for Farmers
By Jean-Paul McDonald, Farms.com
U.S Department of Agriculture Secretary Tom Vilsack will announce today that new loans are now available to those interested in starting a farming business or existing farmers looking to expand their small farming operations. The intent behind the microloans is to help small family-farms expand their businesses and allowing new entrants to farming a means to secure start-up financing.
The loans are also extended to veterans and socially disadvantaged farmers who may not otherwise qualify for traditional farms loans or loans from other programs offered by the U.S.D.A.
These loans can be used to produce organic crops that can be sold directly to farmers markets, buy delivery vehicles, seeds, tools, fertilizers and irrigation equipment, among other things. The new loan program uses a simplified application process which makes applying even easier.