USDA is providing $67 million in competitive loans to help farmers and landowners resolve land ownership and succession issues. Community development lenders, including co-ops, credit unions and nonprofits, can apply to the Farm Service Agency for loans up to $5 million at one percent interest. Heirs’ property is land inherited without a will or documentation of ownership. Once that issue has been addressed, those farms will become eligible for loans and USDA programs. Agriculture Secretary Tom Vilsack said these land ownership issues have challenged Black, Native American, Latino and other farmers in poverty-stricken areas. In a separate announcement, USDA announced $1 million in funding for risk management education for historically underserved farmers and ranchers.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.