Additional Loans Go To New Farmers

A decade ago, only 25% of the Agriculture department's direct loan money went to farmers.  Now it's around 60%.  Jim Radintz oversees the USDA's farm service agency loan portfolio, and of course part of that increase was directed by congress, to put more direct loan resources to those that are just starting out in farming.

"We provided an additional roughly 4200 beginning farmers with the opportunity to buy their first farm. Often times, beginning farmers when asked in terms of obstacles, one of the biggest ones they have is access to land. And of course, being able to buy some farm land may not totally alleviate the problem that they have, but it certainly gets them in the right direction."

Out of the approximately 6,500 microloans made in the last fiscal year, three-quarters went to beginning farmers, 1,000 went to women, and 400 to veterans.  USDA has a new publication Your FSA Farm Loan Compass, that can help new farmers navigate through the loan process.

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