Beginning Farmers and Ranchers Loans
Agency: USDA-FSA Type: Loan Source: Federal Website: http://www.fsa.usda.gov/programs-and-services/farm-loan-programs/beginning-farmers-and-ranchers-loans/index Contact: Maryland State Office Description: The Farm Service Agency Loans for Beginner Farmers and Ranchers are aimed to help those who have not been operating for less than 10 years and owns an operation that is 30% of the typical size in America. The "Farm Ownership loans can provide access to land and capital. Operating loans can assist beginning farmers in become prosperous and competitive by helping to pay normal operating or family living expenses; open doors to new markets and marketing opportunities; assist with diversifying operations; and so much more. Through the Microloan programs, beginning farmers and ranchers have an important source of financial assistance during the start-up years." Amount: Ownership and operating loans: $300,000; Microloans: $50,000 Matching Requirement:
b Depends on the type of loan. You will need to refer to the website or speak with your local FSA representative. The ownership loans should not exceed 45% of the purchase price or appraisal value of the ranch or farm. Application Period: Ongoing
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Disaster Loans
Agency: USDA Small Business Administration
Type: Loan Source: Federal Website: https://disasterloanassistance.sba.gov/ela/s/ Contact: US Small Business Administration, Answer Desk PH: 800-827-5722, Disaster Loans PH: 800-659-2955, or disastercustomerservice@sba.gov Description: SBA Disaster Loan program is open to businesses, homeowners, nonprofit organizations, and renters for the use towards things like repair and replacement of things such as business assets, equipment, inventory, machinery, personal property, and real estate in a declared disaster event. Amount: Up to $2 million Matching Requirements: Special Requirements: Must be in regards to a declared disaster. Application Period: Ongoing
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Emergency Farm Loans Agency: USDA FSA Type: Loan Source: Federal Website: https://www.fsa.usda.gov/programs-and-services/farm-loan-programs/emergency-farm-loans/index Contact: Description: "The Emergency loan program is triggered when a natural disaster is designated by the Secretary of Agriculture or a natural disaster or emergency is declared by the President under the Stafford Act. These loans help producers who suffer qualifying farm related losses directly caused by the disaster in a county declared or designated as a primary disaster or quarantine area. Also, farmers located in counties that are contiguous to the declared, designated, or quarantined area may qualify for Emergency loans.
For production losses, a 30% reduction in a primary crop in a designated or contiguous county is required. Losses to quality, such as receiving a 30% reduced price for flood damaged crops, may be eligible for assistance, too." Amount: Up to $500,000 but depends on actual production or physical loss. Matching Requirements: Special Requirements: Declaration of a natural disaster or emergency such as in the case after a tornado, flood, drought, or quarantine. Must be repaid within 12 months. Application Period: After a declaration of a natural disaster or emergency.
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Farm Loans
Agency: MidAtlantic Farm Credit Type: Loan Source: Private Website: https://www.mafc.com/loans/farm-loans Contact: https://www.mafc.com/contact-us Description: Whether you need money for fertilizer, seed purchases, labor costs or animal purchases, a farm operating loan can help you manage your purchases more efficiently. Amount: Matching Requirements: Special Requirements:
Application Period: Ongoing
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Farm Operating Loan
Agency: USDA FSA Type: Loan Source: Federal Website: https://www.fsa.usda.gov/programs-and-services/farm-loan-programs/farm-operating-loans/index Contact: Description: "FSA’s Direct Farm Operating loans are a valuable resource to start, maintain and strengthen a farm or ranch. For new agricultural producers, FSA direct farm operating loans provide an essential gateway into agricultural production by financing the cost of operating a farm. All FSA direct loans are financed and serviced by the Agency through local Farm Loan Officers and Farm Loan Managers. The funding comes from Congressional appropriations as part of the USDA budget." Amount: $400,000 Matching Requirements:
Special Requirements: Application Period: Ongoing
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Farm Ownership Loans
Agency: USDA FSA Type: Loan Source: Federal Website: https://www.fsa.usda.gov/programs-and-services/farm-loan-programs/farm-ownership-loans/index Contact: Description: The Farm Service Agency Loans "help farmers and ranchers become owner-operators of family farms, improve and expand current operations, increase agricultural productivity, and assist with land tenure to save farmland for future generations." No previous ownership of farm or ranch is required. Amount: Up to $600,000 (300,150 for Beginning Farmer Down Payment) Matching Requirements: Special Requirements: Loan will not exceed 45% of the farm or ranch purchase price or appraisal value. Also, financing from FSA and other sources must not exceed 95% of the purchase price. Application Period: Ongoing
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Farm Storage Facility Loan Program (FSFL) Agency: USDA FSA Type: Loan Source: Federal Website: https://www.fsa.usda.gov/programs-and-services/price-support/facility-loans/farm-storage/index Contact: Description: The FSA Farm Storage and Facility loans are geared towards producers looking to build or upgrade any facilities that would be used for storage of commodities as well as portable units and trucks used in the handling of the commodities in storage. Amount: The maximum loan amount for storage facilities is $500,000; The maximum loan amount for storage and handling trucks is $100,000. Matching Requirements: Special Requirements: Application Period: Ongoing
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Kiva Zip Loans
Agency: Kiva Type: Loan Source: Crowdfunding Website: https://borrow.kiva.org/borrow Contact: https://www.kiva.org/help/contact-us Description: Raise funds for a 0% interest loan by attracting online lenders. Amount: $25 - $10,000 Matching requirement: None Special requirements: Application period: Anytime
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Maryland Agriculture and Resource-Based Industry Development Corporation (MARBIDCO)
Agency: MARBIDCO Type: Grants and Loans Source: State Website: http://www.marbidco.org/ Contact: info@marbidco.org or call (410) 267-6807 Description: MARBIDCO is a quasi-public economic development organization chartered by the State of Maryland and headquartered in Annapolis. Its mission is to help Maryland's (typically small and family owned) farm, forestry, and seafood businesses to prosper through the provision of targeted financial and other services that helps retain existing resource-based industry production and commerce, promote rural entrepreneurship, and nurture emerging or expanding agricultural enterprises. Amount: Matching Requirement: Special Requirements: Depends on type of loan or grant Application Period: Variable
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Microloan Program
Agency: USDA Small Business Administration Type: Loan Source: Federal Website: https://www.sba.gov/funding-programs/loans/microloans Contact: SBA District Office Description: The SBA Microloan program provides loans to help small businesses cover start-up and expansion fees. These loans can be used as working capital and for things like equipment, fixtures, inventory, and supplies. Amount: Up to $50,000 Matching Requirements: Special Requirements: Application Period: Ongoing
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Microloans Program
Agency: USDA FSA Type: Loan Source: Federal Website: https://www.fsa.usda.gov/programs-and-services/farm-loan-programs/microloans/index Contact: local office or USDA Service Center Description: The USDA FSA Microloan program is aimed at helping new, nontraditional, and small farms with participating in direct and wholesale marketing. In terms of the Direct Farm Ownership microloans can help with down payments on a farm, improving farm facilities, and SWCD projects. Direct Farm Operating microloans can be used towards the cost of things like beekeeping equipment, fencing, fertilizer, GAP certification, irrigation, land rent, livestock, maple syrup equipment, milking equipment, organic certification, OSHA compliance, and seeds. Amount: Up to $50,000 Matching Requirements: Special Requirements: 1) Must have no criminal record, 2) must have ability to obtain legal counsel, 3) have a good credit record, 4) be a US citizen, 5) have no forgiveness of previous debt, 6) owe no taxes to the IRS, or 7) have a previous violation to any FSA crop insurance. Application Period: Ongoing
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Rural Energy For America Program Renewable Energy Systems & Energy Efficiency Improvement Loans & Grants Agency: USDA Rural Development Type: Loan Source: Federal Website: https://www.rd.usda.gov/programs-services/rural-energy-america-program-renewable-energy-systems-energy-efficiency Contact: Bruce Weaver at bruce.weaver@usda.gov or by phone (302) 857-3629 Description: The Rural Energy for America program provides loans and grants to help agricultural producers and small businesses of rural areas invest to purchase and install renewable energy systems and/or improve their energy efficiency. Amount: Loans: greater than $5,000. Grants up to $500,000 Matching Requirements: Loans: at least 25% of total cost. Grants: 75% of total project costs. Loan and Grant Combined: at least 25% of total project costs. Special Requirements: 1) Agricultural producers must have at least 50% of gross income coming from their agricultural operation. 2) Small business must be in one of the eligible regions. 3) Applicants must not owe any money to the federal government. Application Period: Applications for Grants of $20,000 or Less and Loan/Grant of $20,000 or Less Combo Applications due by Nov. 2, 2020, or March 31, 2021.
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Small Business Loans
Agency: USDA Small Business Administration Type: Loan Source: Federal Website: https://www.sba.gov/funding-programs/loans Contact: Description: Primarily, SBA is a guarantor of loans made by private and other institutions. These loans are geared towards helping businesses out and are determine on things such as ownership, place of operation, and practices. Amount: Up to $5 million Matching Requirements: Special Requirements: 1) Must be for profit, 2) be a small business as defined by SBA, 3) do business in the USA, 4) have invested equity, 5) have a demonstrated need for a loan, 6) must the funds solely for the business, and 7) don't owe any money to the US government. Application Period: Ongoing
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Youth Loans Agency: USDA FSA Type: Loan Source: Federal Website: https://www.fsa.usda.gov/programs-and-services/farm-loan-programs/youth-loans/index Contact: Description: The FSA Youth Loans are directed towards youth who are involved in 4-H, FFA, and other agricultural youth groups. These loans provides funds which allow youth to start and operate projects aimed at producing income. All projects require an adult adviser with appropriate experience to oversee the youth projects and give help whenever needed. Amount: Up to $5,000 Matching Requirements: Special Requirements: 1) An adult adviser with appropriate experience to oversee the project, 2) involvement in 4-H, FFA, or another agricultural youth group, 3) Parental consent for the loan closing, 4) project must contain an agricultural and educational component, 5) project must make enough to repay loan an interest. Application Period: Ongoing
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