The U.S. Department of Agriculture has developed a new microloan program to help small farm operations and other farmers avoid high interest rates with the credit they need. Ag Secretary Tom Vilsack says part of the reason for this program is the trend among people in their late 20’s and early 30’s who want to get back into a rural life.
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The microloan program will provide up to 35-thousand dollars in credit and simplify the application process for farmers.
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But this program is aimed to encourage those farmers, meet their credit needs and effectively use Farm Service Agency resources. Vilsack says it’s a great opportunity for people who might not otherwise be able to get a loan to do so and continue - or begin - farming.