It is now easier for farmers and ranchers around the country to finance equipment thanks to 22 new categories of eligible equipment for fruit and vegetable producers under the U.S. Department of Agriculture’s Farm Storage and Facility Loan program. The changes are effective immediately.
Under the expansion, producers with small and mid-sized operations as well as specialty crop fruit and vegetable growers can access money for supplies, including sorting bins, wash stations and other food safety-related equipment. A new, more flexible alternative is provided for determining storage needs, and waivers are available on a case-by-case basis for disaster assistance or insurance coverage.
The security requirements have been eased for loans between $50,000 and $100,000.
The loans are used to build or upgrade permanent facilities to store commodities, such as grains, oilseeds, peanuts, pulse crops, hay, honey, renewable biomass commodities, fruits and vegetables. Some qualified structures include grain bins, hay barns and cold storage facilities.
For more information, visit www.fsa.usda.gov or contact the local offices.
Source: The Lynchburg (Va.) News & Advance