The United States Department of Agriculture’s (USDA) Rural Development office has stimulus money available for those opening a business in an area with a population of 50,000 or less.
$58 million in business and industry guaranteed loans are available and must be used by September 30, 2010. The program offers guaranteed loans to assist businesses in developing land, purchasing equipment and buildings as well as providing work capital.
“USDA Rural Development guarantees loans to new or existing business. We encourage businesses to contact us, or talk to their local bank to apply as early as possible,” said Lawrence McCullough Rural Development State Director in a press release.
These loans have no annual renewal fee and a lower guarantee fee of 1 percent instead of the average 2 percent in the past.
In need of a loan to enhance or start your agricultural business? Contact Farm Plus today. Low-rate loans are available starting at 2.95% and we work alongside government agencies such as the FSA to help you get the assistance you need. Call us at 866-929-5585 or visit us online for more information.
It’s no secret the recession hit the agriculture industry- hard. However, in the past months improvements over the industries and crop growths have left California producers optimistic for the future.
Dairy Farmers were one of the hardest hit throughout the economic problems. For many months these producers have been selling milk for below production cost and often sought out governmental assistance to make up for losses. Although times are hard even now, according to the California Farm Bureau, a number of farmers believe after April things will start looking up with a higher demand for milk.
Cattle ranchers across California are also seeing light at the end of the tunnel. After a rough year the beef markets are finally recovering with an increse in beef exports. Winter rains also helped rangelands recover, providing more grazing land for cattle.
Finally, Apricot farmers were hesitant when crops were behind a few days. However, crops bounced back with impressive numbers and quality product. California is responsible for 90 percent of the apricot crops across the United States.
Inflation fears? Refinance with Farm Plus before farm loan rates rise. Farm loan rates starting at 2.95% with 25 year terms. Visit us online or call, toll free, 866-929-5585.
Farmers are looking to add renewable energy to their farms to take advantage of government subsidies as well as make money off an alternative crop. Although many farmers and producers are looking to make the change, many don’t know where to start.
Some states, like Virginia, offer seminars to those wanting to make the transition. The Rural Energy for America Program offers seminars and workshops across the country sponsored by the USDA. “The bottom line of this program is basically to help them decrease their dependency on foreign fuels, increase efficiency and save money,” said Laurette Tucker, a business specialist at the USDA Rural Development office.
The USDA Rural Development office is looking for producers interested in grant-loans or guaranteed loans looking to buy or install renewable energy systems. The money can be used for improving heating, lighting or insulation in poultry houses, converting stoves and boilers that use coal or petroleum to stoves that burn corn or wood, building a bio-diesel or ethanol facility, upgrading to energy efficient appliances, replacing grain dryers or installing solar panels, wind turbines or geothermal systems.
Those interested in applying for loans should contact Farm Plus today. Call 866-929-5585 for information on loans starting at only 2.95%. Farm Plus works alongside government agencies to help you get the loans you need for your farming and ranching needs. Visit our website for more information.
The 2008 USDA Farm and Ranch Irrigation Survey found that 54.9 million acres of farm and ranch land across the United States is irrigated. This has increased five percent since 2003.
The USDA admits that water is the most limited, but necessary resource for farmers and ranchers. “For farmers and ranchers who are looking for more efficient ways to irrigate their land and ways to reduce their expenses, the results of the Farm and Ranch Irrigation Survey provide a valuable tool to help them make informed decisions about the future of their operations,” said Molly Jahn, USDA Deputy Under Secretary for Research, Education and Economics.
The survey emphasized the trend in more efficient irrigation methods such as using sprinkler systems and less gravity irrigation. The survey also pointed out that 9,843 farms use recycled water. Click here to see the full report.
Looking to upgrade your irrigation system? Need a loan to purchase land or buy equipment? Farm Plus has loans available to help you with your farming and ranching needs. Rates are at historic lows! Call 866-929-5585 or visit our website for more information on our low-rate agriculture loans.
The United States Department of Agriculture (USDA) made $10 million available for California producers because of the state’s water problems. The money comes from the USDA’s Natural Resources Conservation Services.
“With the challenges to California farmers cause by three of drought, we are making available much-needed assistance to some of the hardest-hit producers,” Chief of USDA’s NRCS, David White said.
The money is available through the USDA’s Environment Quality Incentives Program. It gives an additional $3 million to producers. Producers in Fresno, Kern, Madera, Merced, San Joaquin, Stanislaus and Tulare counties are eligible. Applicants can apply through April 9th at their local FSA office.
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Drought conditions may hurt 1,300 producers that are part of the Klamath Basin irrigation project in Oregon. The project shares water between fish and farms, but many producers fear there won’t be enough water for their crops.
Federal authorities are meeting with Governor Ted Kulongoski at Klamath Falls to determine the future of 200,000 acres. The tough decision needs to protect the endangered fish and meet the needs of producers.
“It is likely that drought conditions will require significant reduction of irrigation deliveries to the farming community,” Kulongoski wrote in a letter to the Interior Secretary Ken Salazar.
The agreement was signed only three weeks ago in Salem, after five years of negotiations. It provides funding from Congress for 10 years for conservation. If a drought declaration occurs, low-rate loans will be available for producers through the USDA.
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Dry cropland with no irrigation potential increased by 6.4 percent and that land with irrigation potential increased by 7.3 percent according to the survey. Gravity irrigated cropland rose by 5.2 percent and center-pivot irrigated cropland also rose by 6.1 percent.
Bruce Johnson, leader of the survey and agricultural economist at the University of Nebraska-Lincoln, said an overall statewide increase of 4.4 percent is attributed to upward gains of cropland and downward pressure from rangeland.
Looking to invest in farm or ranch land? Now it the time with historic low interest rates! Farm Plus offers agriculture and land loans starting at 2.95%. Visit our website or call us at 866-929-558 for more information.
Producers in Idaho are hoping for a cool, wet spring in order to have a successful growing season. Low snow fall has left the state at only 50 to 75 percent of its average water levels.
Officials fear that Idaho is at its driest since 1961. If the spring isn’t cool and wet, the state could end up in a drought. Idaho would be the next state on the ever growing list of drought states. California tops that list having been in a drought for the past three years.
Looking to refinance before rates rise? Farm Plus has low-rate loans starting at only 2.95%. Call 866-929-5585 to speak with a representative or visit us online for more information on agricultural and rural loans.
Sugar beets are causing a huge debate across the country between traditional and organic producers.
Organic producers are afraid that spring breezes will carry pollen from genetically altered beets to organic crops, ultimately making them worthless. Therefore organic producers are asking a federal judge to stop the planting on over 1 million acres from Michigan to Oregon. The altered beets are engineered to resist the herbicide Roundup.
If the judge stops the production, planters may have to wait up to two or three years for the USDA’s Animal and Plant Health Inspection Service to make an environmental-impact service decision.
The American Sugar Beet Growers Association thinks the entire situation is radical and could destroy the popular industry.
Luther Markwart, spokesperson for the association, said, “It would have disastrous impacts on the 10,000 growers, our processors, the seed companies and the economies of 10 states.”
Looking for an agriculture loan? Interest rates are at historic lows starting at only 2.95%! Farm Plus Financial offers full-time or part-time loans, secured by Farmer Mac and the USDA, for your farming, ranching or rural home needs. Contact us today by calling 866-929-5585 or visit us online for more information.
The beginning note worthy step that may foreshadow what’s forthcoming with interest rates happened during the Federal Reserve’s meeting on February 18th, 2010. The Central Bank on Thursday raised the interest rate that banks pay to borrow money during emergencies from .50% to .75%. Although this rate increase was highly anticipated the Central Bank had went out of the way the mention that it does not anticipate to raise the federal funds rate which influences consumer loans (including farm loans) for an extended period.
So what does this mean for Farmers and Ranchers obtaining a new farm loan?
The simple answer is nothing in the short term. The hike is an indication that the Federal Reserve Banks is starting to withdraw some of the efforts it has made during the recession. Although the economy is far from a rebound some growth has made way for the decision in the increase. This increase should have little impact on interest rates for current new loans but may foreshadow future events.
For a farmer obtaining a new farm loan or refinancing an existing farm loan it is by far the best opportunity in years to take advantage of near historically low farm loan rates. With some small signs of economic stability and the indication the Federal Reserve is beginning the process of rate movement in the other direction. Farmers, Ranchers, and Producers should seriously take a look at their current finances and look to the possibility of refinancing an existing farm loan.
The right loan terms are important for any operation. Farm Plus Financial offers farm loans and ranch loans with flexible terms including fixed and variable rate products to fit the needs of any operation. Our variable rate farm loan products have a built in conversion option, also referred to as a safety net, which gives the customer the ability to convert a variable farm loan to a fixed loan by simply calling and requesting the conversion. The conversion option allows you to take advantage of historical low interest rates while giving you the ability to convert into a fixed rate when the Federal Reserve Bank begins the process of raising key interest rates.
To learn more about loan programs call toll free 866-929-5585 or click here to get started. Our farm loan specialists will be available to review your cash flow needs and will assist you in financial planning for your farm loan and ranch loan needs.
