USDA sets aside funding for women, minorities

EPHRATA - The U.S. Department of Agriculture Farm Service Agency recently announced it allocated a portion of its farm loan program funding specifically for women and minority producers.

Judy Olson, state executive director, said allocating funds for women and minorities is important in making sure that they have access to loan programs.

"While FSA farm loans are available to all qualified applicants, by setting aside funds specifically for women and minorities, it ensures that they will receive a portion of available funds," Olson stated.

Loan funds can be used to purchase farms, livestock and equipment.

They may also be used to fund farm operations, pay for soil and water conservation practices, build or repair buildings and refinance debts.

The agency offers both direct and guaranteed loans, according to the press release.

Terms under direct loans made by FSA to purchase a farm can be extended to 40 years with a current interest rate of 3 percent.

Special programs are also available for lending with a commercial lender.

For more information about the loan programs in Grant or Adams counties, contact farm loan Manager Libby Anderson at 509-754-2463.