The UDSA has sent out current information regarding the “Youth Project Loan” through the Farm Service Agency. Shawna Anderson, Farm Loan Officer writes “the loan program is targeted for rural youth who are 10-20 years of age who operate income producing projects modest in size in connection with their participation in 4-H, FFA, and similar organizations. Possible projects include livestock and crop production. The repayment ability would be based on the type of project. For example, if the youth received a loan to purchase a steer for a fair project, the loan would be paid in full after the animal was sold at the fair. The interest rates vary periodically based upon the cost of money to the government but once the loan is closed, the interest rate is fixed.” The rates in past have been low and the aim is to help all youth that would like to take a livestock or crop project meet their goal. For more information about the loan and/or application packet, please contact Alysson Statz 382-7190.
February 12, 2013