Your Guide to FSA Farm Loans Booklet April 2019
United States
Department of
Agriculture
Farm Service Agency
Your Guide to FSA Farm Loans
This booklet is modeled on a guide that was originally developed by the New
Entry Sustainable Farming Project, Northeast Network of Immigrant Farming
Projects, in September 2007. That guide was authored by Vanessa Bitterman
and reviewed by Jennifer Hashley, New Entry Sustainable Farming Project
Director, and David DeFreest, FSA Loan Officer, Westford, MA.
Purpose of This Guide
Who should read this guide?
This guide is for people who need help starting,
expanding, or owning a farm or ranch. If you are
thinking about borrowing money to start or expand
your farm business, it is a good idea to consider the
following items.
Before you borrow money, you need to learn about
your loan options and the process for applying for a
loan. This guide will help you identify questions and
address concerns you may have before you start the
loan process.
It may be helpful to use this guide with someone
who can direct you to more sources of farming
or ranching information, such as an experienced
farmer or rancher, community-based organization,
or other service provider. You may want to involve
your family when reviewing this guide to make sure
everyone understands the process and risks involved
in owning a farm business and borrowing money.
Your Guide to FSA Farm Loans
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Your Guide to FSA Farm Loans
Table of Contents
Introduction to the USDA Farm Service Agency¡¯s Farm Loan Programs........ 6
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Guaranteed Loan Program
Direct Loan Program
Land Contract Guarantee Program
Highly Fractionated Indian Land Loan Program
What Types of Loans Are Available?............................................................... 10
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Overview
Description of Loan Types
Loan Rates and Terms
Targeted Funds for Beginning and Socially Disadvantaged
Farmers and Ranchers
Eligibility Requirements
Why Do You Need a Business Plan?............................................................... 25
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The Purpose of Your Business Plan
Business Plan Guides for Farmers and Ranchers
Getting Help To Develop Your Business Plan
Business Plan Formats
Business Plan Guidelines
How Do You Apply for a Guaranteed Loan?................................................... 36
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Preparing an Application for a Loan Guarantee
Submitting an Application for a Loan Guarantee
What Happens After Your Lender Submits
an Application for a Loan Guarantee?............................................................ 37
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How FSA Processes an Application for a Loan Guarantee
If the Application for a Loan Guarantee Is Approved
If the Application for a Loan Guarantee Is Not Approved
Your Guide to FSA Farm Loans
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