You are a “beginner farmer” by FSA standards; that is: you have not operated a ranch or farm for more than 10 years and have not owned any ranch that is greater than 30% of the average size farm in your county per the Census of Agriculture at the time you submitted your loan application.
You are seeking certification in line with standards toward sustainable and organic agriculture. Seeking to be certified with USDA Organic, TILTH or CCOF can cost money because you have to change your operation. A ranch loan from the FSA can cover the expense will your business transitions.
You are seeking to update your farm equipment, buy land for greater acreage, build or improve outbuildings, or just need funds for your day-to-day operations. Aside from the FSA, these loans can be sourced from commercial banks. They can have dedicated departments for your ranchers and farmers so they can arrange the proper financing package possible.
To remain competitive in the business, farmers often have to expand their operations, find new opportunities to take advantage of, buy new equipment or maintain old machinery, or they might just need some short-term assistance in managing daily operational expenses during the peak seasons. Maintaining functional equipment is essential to the smooth operation of a farming business. Farmers can get credit to purchase new or used machinery and other farming equipment and tools, and many banks offer the flexibility of paying back a loan based on seasonal cash flow and the unique needs of any operation. Inventory loans are used to finance items such a seed, fertilizer, and pesticides, or equipment needs that increase at certain times of year.
If you have a USDA loan right now, whether a Guaranteed Loan or a Direct 502 Loan, and you wish to lower your interest rate, you can do so with a simple USDA refinance. This program makes it very easy to save money every month no matter the type of USDA program you are in right now. The USDA offers several types of refinances: Streamline, Non-Streamline, Rural Refinance Program. Refinancing your USDA loan, where you have a Guaranteed Loan or Direct Loan is a simple process as the USDA wants to make it as easy as possible to make your payments every month. If you wish to lower your current USDA rate, you can do so rather easily with one of the above available programs.