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Low-interest youth loans available through FSA

January 13, 2014

in Club

fsaSpring weigh-in is right around the corner. Sometimes these projects can be a financial burden until the livestock is sold after the fair. FSA offers Youth Loans that can help alleviate this issue.

The Farm Service Agency offers a variety of farm loan programs. One program offered by FSA is the Youth Loan. FSA makes loans of up to $5,000 to individual rural youths to establish and operate income-producing projects of modest size in connection with their participation in 4-H clubs, FFA, and similar organizations. Each project must be part of an organized and supervised program of work. It must be planned and operated with the help of the organization advisor, produce sufficient income to repay the loan, and provide the youth with practical business and educational experience.

These loans may be used to (1) buy livestock, equipment, and supplies; (2) buy, rent, or repair tools and equipment; and (3) pay operating expenses for running the project. The current interest rate is 1.875 percent.

For additional information about the youth loan program, contact the Pettis County FSA office at (660) 826-3339 ext. 108. All loan programs of the Farm Service Agency are conducted on a non-discriminatory basis.

 

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