The USDA Farm Service Agency reminds producers of offers specially-targeted farm ownership and farm operating loans to “socially disadvantaged” applicants.
In fiscal year 2012, Maine FSA obligated $2.1 million in direct and guaranteed loans to socially disadvantaged producers, defined as a group whose members have been subjected to racial, ethnic or gender prejudice.
Repayment terms for direct operating loans depend on the collateral securing the loan and usually run from one to seven years. Financing for direct farm ownership loans cannot exceed 40 years.
For more information, call 753-9400, ext. 2 or visit www.fsa.usda.gov.
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