Loans available for FFA, 4-H youths

EPHRATA — You may contact the local USDA-Farm Service Agency (FSA) to seek financing for 4-H and FFA Rural Youth Livestock projects, says Farm Loan Manager Libby Anderson.

The FSA’s loan program assists youths interested in agriculture to establish and operate income-producing projects in connection with 4-H clubs, FFA and other agricultural groups.

“FSA rural youth loans have become very popular in our area over the years as proven by the repeat youth loan borrowers year after year,” Anderson said.

Basic eligibility requirements include being a U.S. citizen or legal resident alien and at least 10 years of age at application time. Projects must be planned and operated with the help of the organization advisor or leader and have parental or guardian support.

You must have a Social Security number and a checking or savings account established.

The maximum youth loan limit is $5,000 per youth. The current interest rate for March is 2.625 percent.

Security for Farm Service Agency youth loans is the project animal which is generally sold at local fairs. Farm Service Agency will file a lien and FSA’s name is added to fair proceeds as loan repayment.

“We encourage youths through their clubs or as individuals to get out into your community to market yourselves to seek additional fair support aside from the booster clubs,” Anderson said. Youths involved in 4-H and FFA do not have to be from farm families. They can live in town and have their livestock projects housed at alternative locations.

For more information or to obtain an application, please contact Libby Anderson, Farm Loan Manager, at (509)754-2463.