FSA expands storage facility loans to dairy, flowers and meats
August 19, 2015 |03:19 PM
Producers of dairy products, flowers and meats are among those now eligible for loans under the Agriculture Department’s Farm Service Agency Farm Storage Facility Loan program, FSA Administrator Val Dolcini announced this week.
The low-interest loans may be used to build or upgrade storage facilities.
“For 15 years, this program has provided affordable financing, allowing American farmers and ranchers to construct or expand storage on the farm,” Dolcini said in a news release.
“By adding eligible commodities, these low-interest loans will help even more family farmers and ranchers to expand on-site storage.”
The new commodities eligible for facility loans include floriculture, hops, rye, milk, cheese, butter, yogurt, meat and poultry (unprocessed), eggs, and aquaculture (excluding systems that maintain live animals through uptake and discharge of water).
Commodities already eligible for the loans include corn, grain sorghum, rice, soybeans, oats, peanuts, wheat, barley, minor oilseeds harvested as whole grain, pulse crops (lentils, chickpeas and dry peas), hay, honey, renewable biomass, and fruits, nuts and vegetables for cold storage facilities.
Since 2000, more than 35,000 facility loans have been approved, totaling $2 billion in rural investments, FSA said. On average, about 1,600 new loans are made each year.
Producers do not need to demonstrate the lack of commercial credit availability to apply. The loans are designed to assist a diverse range of farming operations, including small and mid-sized businesses, new farmers, operations supplying local food and farmers markets, non-traditional farm products, and underserved producers.
The low-interest loans may be used to build or upgrade storage facilities.
“For 15 years, this program has provided affordable financing, allowing American farmers and ranchers to construct or expand storage on the farm,” Dolcini said in a news release.
“By adding eligible commodities, these low-interest loans will help even more family farmers and ranchers to expand on-site storage.”
The new commodities eligible for facility loans include floriculture, hops, rye, milk, cheese, butter, yogurt, meat and poultry (unprocessed), eggs, and aquaculture (excluding systems that maintain live animals through uptake and discharge of water).
Commodities already eligible for the loans include corn, grain sorghum, rice, soybeans, oats, peanuts, wheat, barley, minor oilseeds harvested as whole grain, pulse crops (lentils, chickpeas and dry peas), hay, honey, renewable biomass, and fruits, nuts and vegetables for cold storage facilities.
Since 2000, more than 35,000 facility loans have been approved, totaling $2 billion in rural investments, FSA said. On average, about 1,600 new loans are made each year.
Producers do not need to demonstrate the lack of commercial credit availability to apply. The loans are designed to assist a diverse range of farming operations, including small and mid-sized businesses, new farmers, operations supplying local food and farmers markets, non-traditional farm products, and underserved producers.
