| If you are considering the purchase of either | | | | with financial institutions and may actually |
| a farm or a ranch, you know that the cost of | | | | be lower if the state has a vested interest |
| purchasing your property can exceed one | | | | in saving farms and ranches in your area. |
| million dollars. Quite frankly, not that many | | | | Contact your state government for the correct |
| people are resourceful enough to fund this | | | | agency. |
| purchase themselves. Farm and ranch loans are | | | | |
| available to you and at a rate that you can | | | | 3. The federal government. Agriculture is a |
| afford. | | | | key commodity for the American economy and |
| | | | the US federal government understands this. |
| What options do you have to finance your | | | | The United States Department of Agriculture |
| property? With careful research you can | | | | [USDA] actively assists people in obtaining |
| examine various plans available to you and | | | | farm and ranch loans. The Farm Service Agency |
| close on a deal sooner than you think. We | | | | is part of the USDA and their plans include |
| list three important plans for you here: | | | | loans to beginning farmers and ranchers, low |
| | | | income farmers and ranchers, emergency loans, |
| 1. Your local bank or savings institution. | | | | youth loans, and farm ownership loans. Speak |
| Throughout the U.S. there are financial | | | | with an agent to find the farm and ranch |
| institutions specializing in farm and ranch | | | | loans that are of interest to you. |
| loans. Many have existed well before the dust | | | | |
| bowl era and are proudly serving their | | | | You may also find that a family member or |
| communities today. Others have been snapped | | | | friend can provide farm and ranch loans to |
| up by national banks, but they still | | | | you too. If that is the case, have a contract |
| faithfully serve their communities. The rate | | | | drawn up outlining principle borrowed, |
| you pay for your loan can vary depending on | | | | interest rate, loan repayment information, |
| whether your property is currently being used | | | | etc. |
| for production agriculture or not. | | | | |
| | | | Owning your own farm or ranch is a dream for |
| 2. Your state government. Many states have | | | | many Americans. Research wisely and you will |
| set up agricultural associations to assist | | | | find farm and ranch loans that are affordable |
| farmers and ranchers in obtaining low cost | | | | to you. |
| loans. Loan rates are usually competitive | | | | |