The US Department of Agriculture says ag producers can seek a higher limit for guaranteed farm loans if they so choose.
The USDA increased the guaranteed farm loan amount from $1.776 million to $1.825 million this fall. The Farm Service Agency loans help producers with a range of needs from land purchases to financing equipment. FSA offers up to a 95 percent guarantee against possible financial loss of principal and interest, with the loans financed and serviced by commercial lenders.
The loan program was busy in fiscal 2021 with more than $3.4 billion in guaranteed farm ownership and operating loans obligated, including over $1 billion for beginning farmers.
More information is available online at www.fsa.usda.gov or by calling the Emporia service center at 620-343-2812.
