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Next Generation Farmer Loan Program

Overview

The Next Generation Farmer Loan Program uses federal tax-exempt financing to reduce a farmer’s interest rate for capital purchases, such as the purchase of farm land or agricultural machinery and equipment.

Uses

  • Agricultural land
  • Agricultural improvements
  • Depreciable property

Eligibility

  • Permanent Pennsylvania resident who are at least 18 at the time of the loan application
  • Must meet lender’s credit standards
  • Access to adequate working capital, farm equipment, etc.
  • Borrower must not have had any prior ownership of a substantial portion of land

Funding

Maximum loan amount of $649,000 with no more than $62,500 being used toward the purchase of used equipment.

Terms

The lender determines the interest rate and the terms of repayment.

How to Apply

Industrial Development Authority

Source : pa.gov

Trending Video

How farmers are protecting the soil and our food security | DW Documentary

Video: How farmers are protecting the soil and our food security | DW Documentary

For a long time, soil was all but ignored. But for years, the valuable humus layer has been thinning. Farmers in Brandenburg are clearly feeling the effects of this on their sandy fields. Many are now taking steps to prepare their farms for the future.

Years of drought, record rainfall and failed harvests: we are becoming increasingly aware of how sensitively our environment reacts to extreme weather conditions. Farmers' livelihoods are at stake. So is the ability of consumers to afford food.

For a few years now, agriculture that focuses solely on maximum yields has been regarded with increasing skepticism. It is becoming more and more clear just how dependent we are on healthy soils.

Brandenburg is the federal state with the worst soil quality in Germany. The already thin, fertile humus layer has been shrinking for decades. Researchers and farmers who are keen to experiment are combating these developments and looking for solutions. Priority is being given to building up the humus layer, which consists of microorganisms and fungi, as well as springtails, small worms and centipedes.

For Lena and Philipp Adler, two young vegetable farmers, the tiny soil creatures are invaluable helpers. On their three-hectare organic farm, they rely on simple, mechanical weed control, fallow areas where the soil can recover, and diversity. Conventional farmer Mark Dümichen also does everything he can to protect soil life on his land. For years, he has not tilled the soil after the harvest and sows directly into the field. His yields have stabilized since he began to work this way.

Isabella Krause from Regionalwert AG Berlin-Brandenburg is convinced after the experiences of the last hot summers that new crops will thrive on Brandenburg's fields in the long term. She has founded a network of farmers who are promoting the cultivation of chickpeas with support from the scientific community.