The USDA Farm Service Agency in Berkshire County has announced that it has increased its maximum loan limit to $1,094,000. The increased guaranteed loan limit reflects the rising input costs affecting farmers.
The Guaranteed Loan programs allow lenders to make agricultural credit available to farmers who do not meet the lender's normal underwriting criteria. Loans are provided to beginning farmers and limited resource producers, ensuring lenders with a guarantee of up to 95 percent of the loss of principal and interest on a loan.
In addition to guaranteed loans, FSA can also provide direct loans to qualified farmers.
Farmers interested in the guaranteed loan program may contact their lender or the USDA Farm Service Agency Farm Loan Program at(413) 585-1000, ext. 107 or ext 109, or visit the Agency at 195 Russell Street, Suite B5 in Hadley, MA 01035-9521. Information is also available on the web at www.FSA.USDA.gov Click on Farm Loan Programs.
