Farm Service Agency January 21, 2016 – Federal Register Recent Federal Regulation Documents

Direct Farm Ownership Microloan
Document Number: 2016-01038
Type: Rule
Date: 2016-01-21
Agency: Department of Agriculture, Farm Service Agency
The Farm Service Agency (FSA) is adding Direct Farm Ownership Microloan (DFOML) to the existing Direct Loan Program. The revisions to the Direct Loan Program regulations consist of application, eligibility, repayment terms, and security requirements to better serve the unique operating needs of small family farm operations. The existing Microloans (ML) in the Direct Loan Program already include MLs for operating loans (OL). DFOML is expected to make farm ownership loans (FOs) available and more attractive to small operators through reduced application requirements, more timely application processing, and added flexibility for Youth Loan (YL) borrowers in meeting the farm experience eligibility requirement.