USDA is now offering a higher loan limit for guaranteed farm loans as of Oct. 1, increasing the limit from $1.776 million to $1.825 million.
“Farm loans are critical for our customers’ annual operating and family living expenses, emergency needs and cash flow,” said Farm Service Agency (FSA) Administrator Zach Ducheneaux.
Guaranteed loans are financed and serviced by commercial lenders. FSA provides up to a 95 percent guarantee against possible financial loss of principal and interest, the agency said. The loans can be used for both farm ownership and operating purposes.
Producers can learn more by visiting fsa.usda.gov or contacting their local USDA Service Center.
