Farm Startup

Microloans. A recent announcement by the USDA's Farm Service Agency offers what they term microloans of $50,000 with very low interest rates aimed partially at people who are considering getting into ranching as a start up. FSA interim director Arron Johnson. “Characterize the typical start up person that is asking for a $50,000 micro loan. Is this a small organic farmer or perhaps someone more conventional, a son or daughter who wants to buy their parents out of their wheat operation? Let’s say a person returns home to the farm and wants to start a small cattle operation and eventually work up to the ability to take over mom and dad’s set up, we have started several berry patches or vineyards or orchards, smaller operations that will be able to allow them to get into the operation, expand on the basis that they can manage and take care of their operation. We have also had a lot of people who have been involved in our youth loan program and have gotten micro loans to expand on their cattle herds. It can go to pay for family living, pay for the operating like if they want to take over the wheat operation as you mentioned. It has a wide-open capability as long as it involves an agricultural concept.