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Farm Storage Facility Loans
undefined Farm Storage Facility Loans?
undefined Farm Storage Facility Loans?
To be eligible for this loan, a borrower must be a landowner, landlord, leaseholder, tenant, or sharecropper who produces an eligible facility loan and who has a satisfactory credit rating. You must also meet all of the following:
- Has ability to repay the debt for the facility loan, and
- Has a storage need based on the borrower's three-year-average acreage and share of production, minus any current storage available, and
- Provides proof of multi-peril crop insurance from the Federal Crop Insurance Corporation (FCIC) or a private company for the life of the loan, and
- Provides proof of all peril insurance and, if applicable, flood insurance with CCC as a loss payee, and
- Compliant with U.S. Department of Agriculture (USDA) provisions for highly erodible land and wetlands, and
- Compliant with the National Environmental Policy Act, and
- Compliant with any applicable local zoning, land use, and building codes.
A borrower is not eligible if either of the following apply:
- Has delinquent non-tax federal debt, or
- Has been convicted of a controlled substance violation.
undefined Farm Storage Facility Loans?
The interest rate is fixed for the loan term and based on the rate in effect for the applicable loan term during the month of the initial loan approval. Length of loan terms are 7, 10, or 12 years depending on the loan principal.
The maximum loan amount is $500,000. One partial disbursement is available. There are no prepayment penalties, and annual payments are required.
| 7, 10, or 12 years | |
| Varies | |
| $500,000 | |
| Annually | |
| None | |
| Funding to individual farmers and ranchers | |
| None |
undefined Farm Storage Facility Loans?
To apply for this loan, visit the Farm Storage Facility Loan Program homepage and scroll to the heading labeled "Application Form".
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.It is best to contact the local office first to ensure necessary paperwork is brought to the office.
For more information, visit the Farm Storage Facility Loan Program homepage or contact your local Farm Service Agency (FSA) office.
| 10.051 | |
| Yes | |
| Discretionary | |
| No | |
| 1800 | |
| 7-12 Years |
