Throughout the years, the agricultural industry remains to be one of the most important industries in the United States. After all, a huge source of the food we eat comes from farms that are well tended by the hardworking hands of our farmers.
Along with that, the United States is also a leader in farm innovation such as enhancing farming technologies, improving crops and livestock, and even developing eco-friendly products.
This is why agricultural financing is important to keep farming a mainstay in the American economy. The agriculture or
farm loan programs available are not just limited to big scale farms or agriculture businesses. If you know where to look, there are financing options that are fit to different situations.
Basic agriculture loans
The United States Department of Agriculture (
USDA) offers financing options for all types of farms through the Farm Service Agency (FSA). This agency is dedicated to supporting the American agriculture industry by financing family farmers, ranchers and those who are interested to start or expand farms and ranches by the FSA’s
Farm Loan Program.
Get to know more agricultural loans here.
Special FSA loans
There are loans that are also offered for special purposes. FSA’s Farm loan program also have financing options for marketing and advertising to further improve the business in the market. And since diversity is an essential aspect of the future of U.S. farming, there are loans for aspiring women as well as racial and ethnic minorities who want to learn about farming and to start their own farm operations.
Financing for Organizations
As for organizations that are dedicated to educating the youth and spark their interest to push the agriculture industry’s continued growth in the future, there is financial support offered through the Farm Loan Program for their education programs and projects. It helps kids to develop their interest in making money by starting small as well as pursue their curiosity through these efforts. This is such a good initiative to help secure the state of the agriculture industry in America.
Financing for Urban Agriculture
With the surge of the America’s population, cities are growing. Farmers are moving to cities as well and urbanization takes up a lot of arable land and leaves less for growing crops. This is why urban farmers are exploring and looking for ways to maintain food production in smaller spaces. Thanks to the FSA, there are special agricultural financing for these innovations and methods.
Agricultural Loans for Operations and Equipment
In order for existing farmers and ranchers to be up to date and remain competitive in the industry, there are loans that are dedicated to finance expansion through purchasing new equipment or look for advanced technology equipment to improve operations. Loans are also offered for those who need financing for day-to-day expenses in operations. Some would need operational loans for short-term needs like seeds, pesticides, herbicides, fertilizers and the like. Temporary staff and other repairs can also be covered through these loans.
Real Estate Loans for Farmers
For farmers that need to increase the size of their operations, farmlands or other rural properties, there are real estate loans that provide incentives for these needs. Short-term and long-term loans are offered that cover agricultural properties and even add value to their homes.
Talk to our lenders about agriculture financing here.