Hobby farm mortgage4/18/2023 ![]() Individual Development Accounts (IDAs) – IDAs are matched savings accounts available for lower income individuals and small business owners to assist with equipment purchases, working capital and more. ![]() (link)Ĭommunity Lending Works - Lending work includes small loans and technical assistance to small agricultural businesses (link) (link)Ĭraft 3 - Statewide lending and business assistance to entrepreneurs who don’t normally have access to financing, including for rural, agriculture and food businesses. Harvest Capital – A Northwest agricultural real estate lender that can help finance the purchase of agricultural properties, farms, ranches, buildings and improvements, and consolidate existing debt. Oregon has a Community Public Offering tool available to food and agriculture businesses to raise up to $250,000 by crowdsourcing small loans from Oregon residents. Here are a few that might provide opportunities for Oregon farmers: In addition to the Aggie Bonds program, Business Oregon administers a number of other loan program for small business that food and agricultural entrepreneurs might be able to use (read more)Ī number of non-traditional financing options for farm and food businesses exist. Administered by Business Oregon, a state agency, involvement from a participating lender, like NW Farm Credit Services or another bank, is required. Oregon ‘Aggie Bonds’ Beginning and Expanding Farmer Loan Program – This program is an interest rate reduction program for beginning farmers that can provide significantly lower interest rates on farm and equipment ownership loans. (read more)Ĭommunity Banks and Credit Unions – A number of smaller community banks and credit unions make loans for farms and farming operations and serve particular regions. Northwest Farm Credit Services (FCS) - NW Farm Credit Services specializes in loans to farmers and ranchers for farm ownership and operating costs. ![]() Rural Energy for America Program (REAP) and Energy Efficiency Improvement Loans and Grants - For assistance in the purchase and installation of on-farm and rural renewable energy generating systems or energy efficiency improvements. (read more)įSA Microloans - ‘Microloans’ of up to $35,000 for operating costs are now available for ‘small, beginning farmer, niche and non-traditional farm operations (read more)īeginning Farmer and Rancher Loans – Many FSA loan programs have funds set aside specifically to help beginning farmers and ranchers, which means those who have owned or operated a farm or ranch for fewer than 10 years, or that own and operate a small farm or ranch that is less than 30% of median county farm size for the county they are located in. Farm Service Agency (FSA) - The US Farm Service Agency makes many types of direct and guaranteed farm-ownership and operating loans to family-size farmers and ranchers.
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