A new online tool can help farmers and ranchers find information on U.S. Department of Agriculture farm loans that may best fit their operations. USDA has launched the new Farm Loan Discovery Tool as the newest feature on farmers.gov, the Department’s self-service website for farmers.
USDA undersecretary Bill Northey says the tool can “help farmers find information on USDA farm loans within minutes.” The changes are part of customer service improvements effort by USDA, and was identified through suggestions from farmers. USDA’s Farm Service Agency offers a variety of loan options to help farmers finance their operations, from buying land to financing the purchase of equipment.
Compared to this time last year, FSA has seen an 18 percent increase in the amount it has obligated for direct farm ownership loans. Through the 2018 Farm Bill, FSA has increased the limits for several loan products. USDA conducted field research in eight states, gathering input from farmers and FSA farm loan staff to better understand their needs and challenges.