Lenders are now eligible to apply for USDA’s new Heirs’ Property Relending Program, and applications are being accepted through Oct. 29. Cooperatives, credit unions and nonprofit organizations are encouraged to apply for the loans.
The program ultimately helps agricultural producers and landowners resolve heirs’ land ownership and succession issues, USDA said.
“Heirs’ property issues have long been a barrier for many producers and landowners to access USDA programs and services, and this relending program provides access to capital to help producers find a resolution to these issues,” said Zach Ducheneaux, Farm Service Agency administrator.
Loans up to $5 million at a 1 percent interest rate will be given to eligible lenders. More information may be found at farmers.gov/heirs/relending.
