Wisconsin Ag Connection - Still Time to Apply for Direct Farm Ownership Loan Program

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Still Time to Apply for Direct Farm Ownership Loan Program
Wisconsin Ag Connection - 05/28/2015

The Wisconsin Farm Service Agency announced that farmers still have time to apply for low interest loans available through the FSA direct farm ownership program. Applications must be approved by September 30 to take advantage of the 2015 annual funding available. Applications after this date will come from 2016 funding allotments.

State FSA Director Brad Pfaff says eligible farmers can borrow up to $300,000 to buy farmland, construct or repair buildings, pay closing costs, or promote soil and water conservation. The interest rate can be as low as 1.5 percent with up to 40 years to repay.

"If you are thinking about purchasing or expanding your farm, our affordable loans can help," said Pfaff. "There are no backlogs or waiting for funds, so give us a call today."

Each year Congress targets 80 percent of available loan funds to beginning and targeted underserved farmers.

For more information about farm loan, contact your local FSA office.

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