USDA Farm Service Agency in Georgia to Host Three Additional Information Sessions on Farm Loans

The U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) Georgia State Executive Director, Arthur Tripp, Jr., invites agricultural producers to attend one of several Farm Loan Information Sessions to learn more about the capital assistance options available to start, expand, or enhance an agricultural operation. Tripp and FSA staff will provide an overview of current USDA farm loan programs and how to apply.

The in-person information sessions are free and open to the public. Producers planning to attend a session should email GAOutreach@usda.gov to RSVP or for any questions.

“It is vital that our producers are aware of the pathways in which the U.S. Department of Agriculture can assist them in meeting their operational goals,” said Tripp. “Our recent information sessions in Southwest Georgia were extremely successful. By replicating these information sessions in other areas of the state, we are helping ensure that producers in Georgia have the information and tools they need to successfully navigate our suite of capital assistance options.”

Below are the details for each Farm Loan Information Session:

Date: Tuesday, March 12, 2024
Time: 10:00 AM
Location: Dodge Co. Rec Dept., Alco Building
1027 Dublin Hwy, Eastman, GA 31023

Date: Tuesday, March 12, 2024
Time: 2:00 PM
Location: Billy Walker Agricultural Center
901 GA-206, Douglas, GA 31533

Date: Wednesday, March 13, 2024
Time: 10:00 AM
Location: Wayne County Extension Office
1900 Sunset Boulevard, Jesup, GA 31545

Direct and Guaranteed Loans

Direct loans are made to applicants by FSA. Guaranteed loans are made by lending institutions who arrange for FSA to guarantee the loan. FSA can guarantee up to 95 percent of the loss of principal and interest on a loan. The FSA guarantee allows lenders to make agricultural credit available to producers who do not meet the lender’s normal underwriting criteria.

The direct and guaranteed loan program offers two types of loans: farm ownership loans and farm operating loans.

Farm ownership loan funds may be used to purchase or enlarge a farm or ranch; purchase easements or rights of way needed in the farm’s operation; build or improve buildings such as a dwelling or barn; promote soil and water conservation and development; and pay closing costs.

Farm operating loan funds may be used to purchase livestock, poultry, farm equipment, fertilizer, and other materials necessary to operate a farm. Operating loan funds can also be used for family living expenses; refinancing debts under certain conditions; paying salaries for hired farm laborers; installing or improving water systems for home, livestock or irrigation use; and other similar improvements.

Repayment terms for direct operating loans are scheduled from one to seven years. Financing for direct farm ownership loans cannot exceed 40 years. Interest rates for direct loans are set periodically according to the government’s cost of borrowing. Guaranteed loan terms and interest rates are set by the lender.

Interest rates for Direct Loans approved for March 2024 are as follows:

  • Farm Operating – Direct: 4.875 percent
  • Farm Ownership – Direct: 5.250 percent

More Information 

 FSA has a variety of loans available, including direct farm ownership and operating loans, guaranteed farm ownership and operating loans, emergency loans, and the Farm Storage Facility Loan Program. For more information on FSA programs and resources, producers should contact their local USDA Service Center

Special Accommodations 

Persons with disabilities who require special accommodations to attend or participate in this meeting should contact Haylie Haines at (706) 552-2506.

Jessica Szilagyi

Jessica Szilagyi is Publisher of TGV News She focuses primarily on state and local politics as well as issues in law enforcement and corrections. She has a background in Political Science with a focus in local government and has a Master of Public Administration from the University of Georgia.

Jessica is a "Like It Or Not" contributor for Fox5 in Atlanta and a commentator on the 'Let Me Tell You Why You're Wrong Podcast.'

Sign up for her weekly newsletter: http://eepurl.com/gzYAZT

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