The U.S. Department of Agriculture Tennessee Farm Service Agency Executive Director Gene Davidson recently announced that farmers and ranchers still have time to apply for low interest 2014 loans available through FSA’s direct farm ownership program.
The deadline to submit applications is Sept. 30, 2014.
Eligible producers can borrow up to $300,000 in direct farm ownership loans to buy or enlarge a farm, construct new farm buildings or improve structures, pay closing costs or promote soil and water conservation and protection.
The interest rate on select loans can be as low as 1.5 percent with up to 40 years to repay.
“This is an extraordinary opportunity for more farmers and ranchers to get low-interest loans to start their first farm or expand an existing family farm,” said Davidson. “There are no backlogs or waiting for funding. If you’ve dreamed about starting a farm, or if you’re looking to strengthen your farm, we want to help.”
FSA encourages all interested applicants to apply for direct farm ownership loans. For more information about the program and other loans administered by FSA, visit any FSA county office or www.fsa.usda.gov.