Financial Services
United States Department of Agriculture
The Farm Service Agency of the U.S. Department of Agriculture ensures the well-being of American agriculture, the environment and the American public through efficient and equitable administration of farm commodity programs; farm ownership, operating and emergency loans; conservation and environmental programs; emergency and disaster assistance; domestic and international food assistance and international export credit programs. These programs provide a safety net to help farmers produce an adequate food supply, maintain viable operations, compete for export sales of commodities in the world marketplace, and contribute to the year-round availability of a variety of low-cost, safe, and nutritious foods. FSA enhances the environment by the development and implementation of programs to ensure adequate protection of our natural, cultural, and historic resources. We assist agricultural producers and landowners in achieving a high level of stewardship of soil, water, air, and wildlife resources on America's farmland and ranches.
The FSA makes and guarantees farm ownership and operating loans and provides technical management assistance to family farmers and ranchers. farm ownership loans may be used to buy, improve, or enlarge farms, including buildings, ponds, wells, and water systems. Farm operating loans may be used to pay for items needed for a successful operation such as farm and home equipment, feed, fuel, chemicals, and hired labor.
Loan funds may be used to provide facilities and operational resources to produce fish under controlled conditions. Interest rates and repayment schedules will vary according to the type of loan made and the cost of borrowing to the Federal Government. Guaranteed loans are negotiated by the borrower and the lender.
The Office of Risk Management (Crop Insurance Information) provides user-friendly access to crop insurance and other risk management related information for our customers.
The Emergency Conservation Program (ECP) shares with agricultural producers the cost of rehabilitating eligible farmlands damaged by natural disaster. During severe drought, ECP also provides emergency water assistance — both for livestock and for existing irrigation systems for orchards and vineyards.
The Noninsured Crop Disaster Assistance Program is for crops for which crop insurance is not available. It provides assistance for farmers who grow such crops, limiting their losses from natural disaster and helping to manage their overall business risk. NOTE: To be eligible for assistance in the event of a disaster, you must provide certain information to FSA annually, before a disaster occurs.
The FSA provides low-interest Emergency Loan (EM) Assistance loan assistance to eligible farmers to help cover production and physical losses in counties declared as disaster areas by the President or designated by the Secretary of Agriculture. The FSA Administrator may also authorize EM loan assistance to cover physical losses only.
The FSA administers Farm Loan Programs which offer direct and guaranteed farm ownership and operating loan programs to farmers who are temporarily unable to obtain private, commercial credit. Often, these are beginning farmers who can't qualify for conventional loans because they have insufficient financial resources. The Agency also helps established farmers who have suffered financial setbacks from natural disasters, or whose resources are too limited to maintain profitable farming operations. Under the guaranteed loan program, the Agency guarantees loans made by conventional agricultural lenders for up to 95 percent of principal. The lender is always responsible for servicing the borrower's account for the life of the loan. All loans must meet certain qualifying criteria to be eligible for guarantees, and FSA has the right and responsibility to monitor the lender's servicing activities. Farmers interested in guaranteed loans must apply to a conventional lender, who then arranges for the FSA guarantee.
Applicants unable to qualify for a guaranteed loan may be eligible for a direct loan from FSA. Direct loans are made and serviced by FSA officials, who also provide borrowers with supervision and credit counseling. Funding authorities for direct loans are limited, and applicants may have to wait until funds become available. To qualify for a direct farm ownership or operating loan, the applicant must be able to show sufficient repayment ability and pledge enough collateral to fully secure the loan.
United States Department of Commerce
NOAA, NATIONAL MARINE FISHERIES SERVICE
Financial Services Division
WHAT PROJECTS CAN BE FINANCED?
Available for financing and refinancing the construction, reconstruction, reconditioning or purchase costs of::
HOW DOES THIS PROGRAM WORK?
DO YOU QUALIFY?
- Must be a U.S. citizen.
- Must have good earnings record, net worth and liquidity behind project.
- No capital venture risks.
- No startup projects for parties without successful fisheries experience.
- Must have good credit.
- Must be fully secured with debtor's assets.
- Recourse against debtor's principals.
Although Program risk stsndards are high, the benefit is a lower interest rate and a longer financing term than is generally otherwise available. This results in a smaller annual debt service demand on variable, and often unpredictable, fisheries income.
HOW DO I GET MORE INFORMATION?
First of all, contact your Regional Financial Services Branch and discuss your project>
Southeast Financial Services Branch
St. Petersburg, FL (727) 570-5377Northeast Financial Services Branch
Gloucester, MA (978) 281-9203Northwest Financial Services Branch
Seattle, WA (206) 526-6122If after discussing your proposal and it appears to meet the program's requirements, you will be sent an application form to complete and submit along with a one-time filing/commitment fee equal to 1/2 of 1% of your proposed loan amount.
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