USDA Expanding Opportunities for Beginning Farmers

The USDA announced yesterday new and exciting changes (read: opportunities) for beginning farmers, effective November 7.  Below are a quick list of the changes, which will be discussed in further depth in later blog posts:

  • The borrowing limit for microloans increases from $35,000 to $50,000;
  • Simplified procedures for lending;
  • Updating “farming experience” to include other experiences;
  • Expanding eligible business entities to reflect changes in how family farms and ranches or owned and operated.

More information from the USDA may be found here.