Government promotes farm production through loans and grants.
Farming has always been an uncertain enterprise. Floods, droughts and pests can cancel out a year of plowing, planting and cultivation. Fluctuating land values can likewise affect the credit-worthiness of a farm operation. Since the Great Depression, the federal government and its state counterparts have directed a portion of resources toward addressing the needs of farmers: start-up cash for novice farmers, funds for minority landowners and emergency disaster relief. The multiple grant and loan programs offered by the United States Department of Agriculture, as well as by state agriculture agencies, require a distinct set of qualifications and call for the execution of particular procedures.
Instructions
1. Clarify the reason for and amount of the funds you are seeking. Every agency, or bank, considers each financial distribution an investment. Thus, the outlay must make sense.
2. Visit the websites of the USDA's Rural Development and Farm Service Agencies. Select assistance programs that conform to your loan purpose and size. Download and print out the forms for your chosen loan or grant. Make sure to make copies of required documentation.
3. Fill out the application paperwork. Locate your nearest USDA office or service center; call and make a loan appointment. While you may submit some applications online, it is better to meet with a representative and establish a contact relationship.
4. Repeat the tasks with your state agriculture department. Though many have sophisticated online operations, expect to have the applications mailed to you. Make sure to get a name and a phone number when requesting information.
Tags: Make sure, state agriculture