USDA Microloans Can Help Starting Or Niche Farmers

In an effort to help those looking to break into the farming industry, or those interested in filling a specific niche in Ag, the USDA is offering Microloans.  Houston Bruck with the Washington FSA said since the dollar amounts issued are smaller, they have flexibility how the funds can be used.

“You know, we’ve seen some nontraditional farms get their start using this microloan program from hydroponics to aquaponics to organic growing methods, some vertical growing methods.  But we’ve also certainly used this program for traditional production.”

Bruck told the Washington Ag Network the funds can be used on a variety of purchases, from a down payment on rural real estates, to construction, and even to cover the cost of labor and much more.  Bruck added since 2013, the FSA in Washington has issued over 300 microloans valued at over $7 million.

“And a lot of them will certainly stay a little smaller, a little side operation or a part-time job or operation.  But we’ve also seen this program be used for folks to get their start in farming.  It started out as a part-time, or side operation, and even in these last few years has had success and has grown to where they’re actually doing this fulltime.”

Bruck added with less paperwork than traditional loans, the microloans can offer a quicker turnaround.

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