Agriculture Secretary Tom Vilsack to Address Alaska Federation of Natives
Millions in USDA funding and new Projects for rural Alaskan Communities to be Announced
Who: Agriculture Secretary Tom Vilsack
Time of Speech: Thursday, October 23rd at 10:20 a.m.
Where: Dena’ina Convention Center: 600 West 7th Avenue; Anchorage, AK 99501, in the Main Hall
Also, FSA is rolling out new, expanded loan programs for Alaska’s beginning farmers.
USDA Expands Access to Credit to Help More Beginning and Family Farmers
The U.S. Department of Agriculture (USDA) today announced improvements to farm loan programs by expanding eligibility and increasing lending limits to help more beginning and family farmers. As part of this effort, USDA is raising the borrowing limit for the microloan program from $35,000 to $50,000; simplify the lending processes; updating required “farming experience” to include other valuable experiences; and expanding eligible business entities to reflect changes in the way family farms are owned and operated. The changes become effective Nov. 7.
The microloan changes will allow beginning, small and mid-sized farmers to access an additional $15,000 in loans using a simplified application process with up to seven years to repay. Microloans are part of USDA’s continued commitment to small and midsized farming operations.
USDA Alaska Farm Service Agency