Farm enterprise funds
Region - posted May, 11 2012
The Connecticut Farm Service Agency (FSA) announces availability of funds for farm enterprises, (new or existing) to purchase or operate a family-size farm in fiscal year 2012. FSA provides direct and guaranteed assistance in the form of farm operating and farm ownership loans. Direct loans are made by FSA. Guaranteed loans are issued by lending institutions, with up to 90 percent guaranteed by FSA. Operating loans may be used to purchase equipment, feed, seed, and other business-related expenses. Repayment terms run from one to seven years. Ownership loans provide capital to purchase or enlarge a farm, construct or improve buildings; promote soil and water conservation and pay closing costs. Direct ownership loan terms are up to 40 years. Qualified candidates are provided information and assistance to develop sound management practices, analyze problems and utilize available resources essential for successful farming operations to cope with the changing agricultural environment. The May interest rate for operating assistance is 1.50 percent; Farm Ownership rate is 3.50 percent. Contact Karen Tomlinson (Karen.email@example.com) for additional information, 860-626-8250, ext. 104 or visit www.fsa.usda.gov.