This week, the U.S. Department of Agriculture (USDA) announced higher loan limits will be available for borrowers seeking a guaranteed farm loan. The loan limit, as of October 1, 2021, went from $1.776 million to $1.825 million.
FSA Administrator Zach Ducheneaux said “Farm loans are critical for our customers’ annual operating and family living expenses, emergency needs, and cash flow.”
Ducheneaux also said “Raising the guaranteed loan limit will allow FSA to better meet the financial needs of producers as natural disasters and the pandemic continue to impact their operations.”
FSA farm loans offer access to funding for a wide range of producer needs, from securing land to financing the purchase of equipment.