To be eligible for this loan, you must be a U.S. citizen, non-citizen national or legal resident of the United States or U.S. territories. You must be an agricultural producer or family farmer and must have experience in farm business operations in at least three of the 10 years prior to the application submission. You must also meet all of the following:
Applicants are automatically not eligible if either of the following apply:
Eligible applicants may obtain direct loans up to a maximum indebtedness of $300,000. Maximum indebtedness for guaranteed loans is $1,392,000 (amount adjusted annually for inflation). The maximum repayment term is 40 years for both direct and guaranteed farm ownership loans. In general, loan funds may be used to purchase a farm, enlarge an existing farm, construct new farm buildings and/or improve structures, pay closing costs, and promote soil and water conservation and protection.
40 years | |
Direct - Varies, Guaranteed - Market | |
Direct - $300,000, Guaranteed - $949,000 | |
Varies | |
None | |
Direct - 0, Guaranteed - 1% |
To apply for a direct operating loan, applicants must submit an application form (FSA-2001, "Request for Direct Loan Assistance") and all other required documentation to their local USDA Service Center or FSA County Office.
Please follow guidance on "How to Complete an FSA Loan Application" found on the FSA Fact Sheet.
Forms can be located on FSA's Farm Loan Programs Direct Loan Application Forms and Instructions page.
To apply for a guaranteed loan, visit your lender who will arrange for the guarantee.
For more information about FSA loan programs, please visit FSA's Farm Loan Programs homepage.
You may also obtain information through your local FSA office or USDA service center. To locate the office nearest you, visit the USDA Service Locator page.