Ad Spot

Microloan Cap Grows to $50,000

Alabama Farm Service Agency State Executive Director Daniel Robinson reminds farmers and ranchers that the FSA borrowing limit for microloans recently increased from $35,000 to $50,000. Microloans offer borrowers simplified lending with less paperwork. Robinson said it makes borrowing from FSA a “first opportunity” to farm or ranch or quickly expand existing operations.

“This will help more people because of new flexibilities created by the 2014 Farm Bill,” Robinson said. “We’re especially excited in Alabama, because we want to encourage more beginners and young people, especially those from historically underserved communities, to consider farming and ranching as a way to become independent businessmen and women. It’s a rewarding way to build or expand a family operation.”

The microloan change allows beginning, small and mid-sized farmers to access an additional $15,000 in loans using a simplified application process with up to seven years to repay. Microloans are part of USDA’s continued commitment to small and midsized farming operations.

To complement the microloan program additional changes to FSA eligibility requirements will enhance beginning farmers and ranchers’ access to land, a key barrier to entry level producers. FSA policies related to farm experience have changed so that other types of skills may be considered to meet the direct farming experience required for farm ownership loan eligibility. Operation or management of non-farm businesses, leadership positions while serving in the military or advanced education in an agricultural field will now count towards the experience applicants need to show when applying for farm ownership loans.

“If you want to comment on our changes to the microloan and loan eligibility, you have an opportunity to share suggestions,” Robinson said. The comment period runs through Dec. 8, 2014.

Since 2010, FSA has made a record amount of farm loans-more than 165,000 loans totaling nearly $23 billion. More than 50 percent of USDA’s farm loans now go to beginning farmers. In addition, FSA has increased its lending to socially-disadvantaged producers by nearly 50 percent since 2010.

FRONT PAGE FEATURED

Sheffield is officer of quarter 

FRONT PAGE FEATURED

Fourth grade rocks 4-H 

FRONT PAGE FEATURED

‘Jesus Revolution’: Priceville couple serve as extras in upcoming faith-based film  

FRONT PAGE FEATURED

Finding Your Future draws crowd

News

Lacey’s Spring man allegedly entered neighbor’s house, abused sleeping woman

Hartselle

Crestwood Shopping Center sold to Florida investment company

News

Chamber’s State of the County breakfast set for February

Hartselle

Making progress

News

Judge’s choice  

FRONT PAGE FEATURED

Sheriff gets OK to hire part-time jailers

News

Hartselle Drama Gala returns Saturday

At a Glance

Annual tree giveaway to be held March 1

Eva

Shaddix, Hopkins named Morgan Teachers of the Year  

Morgan County

Fundraising kicks off for 120-foot Morgan cross

Morgan County

Stadthagen named to three legislative committees  

FRONT PAGE FEATURED

Morgan’s jobless rate among lowest statewide  

Falkville

Looking ahead: Growth on horizon for Hartselle, surrounding area  

Hartselle

American Legion Post 52 hosts annual speech contest 

At a Glance

Falkville man killed in crash

At a Glance

Somerville shooting victim identified

At a Glance

Morgan students graduate from JSU

FRONT PAGE FEATURED

Hartselle Educator Hall of Fame to induct six  

FRONT PAGE FEATURED

Flying high: Hartselle senior is dual enrolled in aviation program 

FRONT PAGE FEATURED

Judge dismisses lawsuit that sought to invalidate hiring of new Hartselle superintendent 

x