A new USDA program can help beginning farmers get a boost. Sabrina Hill has more.
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The USDA has a new way to help small farmers, veterans and disadvantaged producers. The new microloan program is designed to help beginning or socially disadvantaged farmers along with small and family operations, secure loans under $35,000. The new microloan program is aimed at bolstering the progress of producers through their start-up years by providing needed resources – and helping to increase equity so that farmers may eventually graduate to commercial credit and expand their operations. The USDA says the microloan program will also provide a less burdensome, more simplified application process in comparison to traditional farm loans.
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