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Policy: Entitlements

Program offers low-interest loans to farmers

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News,Business,Entitlements

LEXINGTON, Ky. (AP) — Kentucky farmers and ranchers still have time to apply for low-interest loans through the Farm Service Agency's direct farm ownership program.

Kentucky FSA Executive Director John W. McCauley says the deadline to submit applications is Sept. 30.

Eligible producers can borrow up to $300,000 in direct farm ownership loans to buy or enlarge a farm, construct new farm buildings or improve structures, pay closing costs or promote soil and water conservation.

The interest rate on select loans can be as low as 1.5 percent with up to 40 years to repay.

McCauley says the program offers a chance for more farmers and ranchers to get low-interest loans to start their first farm or expand an existing farm.

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