The USDA Farm Service Agency is working harder than ever to assist new farmers and ranchers to succeed. USDA Farm Service Agency has recently unveiled a new Land Contract Guarantee Program and several other tools that are designed to help beginning farmers and ranchers build the foundation for a successful career in agriculture. The Land Contract Guarantee Program provides a new approach for landowners willing to sell and finance a land purchase to a beginning or socially disadvantaged farmer. The national program offers two options, one that guarantees up to three annual installment payments on the contract and one that guarantees 90% of the unpaid principal of the contract. Guarantees can be used in the purchase of land for up to $500,000. Here's FSA Public Affairs/Outreach Specialist Candace Moore referring to something Executive Director Dick Rush has said."Idaho's farmers represent all walks of life, and all different ages," notes Dick Rush, State Executive Director. "They have been pioneers in new ways of making their farms and ranches successful. This new program will work well for beginning and minority growers in our state and we encourage producers to visit with our Farm Loan Officers to see if they qualify and how it could fit their needs," he said.
One of the changes the agency has implemented in their lending rules for new producers is to allow more flexibility in the minimum experience requirement. Under the new rule, FSA loan officers are now allowed to consider all prior farming experience, including on-the-job training and formal education.
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