In a report released just before the New Year, the USDA’s Economic Research Service outlined the progress of the micro-loan program. Since 2013, the USDA has been granting small infusions of cash for farmers through the micro-loan program. The ERS report reveals that these loans are indeed going to their targeted group, small farms and beginning farmers and ranchers. Over the course of the program, participation has increased especially in beginning and socially disadvantaged farmers. These loans can help purchase equipment, seed, or cover other agricultural expenses. Check out more information on the history of the program in NSAC’s outline here. To find out how to apply for a micro-loan, see the USDA’s website here.
Micro-loan Program Provides Options for Small Farmers