Two of the biggest barriers for beginning farmers and ranchers are access to land and access to capital reported the Center for Rural Affairs.
Overcoming these obstacles is vital to the next generation of farmers.
USDA down payment loans can be part of the solution. The program allows new farmers the opportunity to limit their down payment to 5% of the purchase price, and receive 45% of the load through the USDA’s Farm Service Agency at 1.5% interest with a 20 year term. Tradition bank financing can be used for the remaining 50%.
A Nebraska success story about a young couple who used this program is available from the Center for Rural Affairs.