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The USDA Farm Service Agency has unveiled a new Land Contract Guaranteed Program and several other tools designed to help new farmers and ranchers build the foundation for a successful career in agriculture.
FSA Executive Director Dan Steinkruger says the FSA is going to provide new options to help them work through challenging start-up issues.
The Land Contract Guarantee Program provides a new approach for landowners willing to sell and finance a land purchase to a beginning or socially disadvantaged farmer. The program offers two options, one that guarantees up to three annual installment payments on the contract and another that guarantees 90% of the unpaid principal of the contract. The guarantees can be used in the purchase of land for up to $500,000.
For more information on these and other USDA programs, you can call or visit your nearest USDA Farm Service Agency office or look on the web at www.fsa.usda.gov.
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