Are you a farmer or rancher in need of financing, or a lender with a customer interested in obtaining a loan for agricultural purposes? Do the following conditions apply?
- The loan proceeds will be used for land or depreciable property used for an agricultural purpose in Nebraska.
- The borrower can identify his/her own lender willing to participate in the program.
- The borrower's net worth is less than $500,000.
- The borrower has not owned "substantial farmland" (see definition on Eligible Borrowers page)
- The borrower will materially and substantially participate in the agricultural operation.
- The loan proceeds will go solely to the benefit of the individual borrower (not a partnership or corporation).
If so, the loan may qualify for NIFA's Beginning Farmer/Rancher Program. This program has assisted Nebraska farmers and ranchers in obtaining low interest agricultural loans since 1981.
Start-up strategies for beginning farmers as outlined in Cornhusker Economics is an interesting article highlighting issues for the first-time farmer or rancher to consider.