Options available for farmers to update facilities
School buses are out on the roads again and kids are going back to school. Back to school also signifies that harvest is coming in Wisconsin.
Keep in mind that the Farm Service Agency offers a number of programs to help obtain some working capital for farming operation during and after harvest.
Marketing assistance loans provide producers interim financing at harvest time to help them meet cash flow needs when market prices are typically at harvest-time lows. Interest rates are very competitive and the loans are a great tool for any farm operation. To learn more, visit fsa.usda.gov/pricesupport.
It may be too late for this harvest, but the Farm Storage Facility Loans available through FSA provide low-interest financing for producers to build or upgrade farm storage and handling facilities to store eligible commodities they produce, including cold storage facilities, bulk tanks, storage facilities, new or used handling and storage equipment — portable or permanently affixed — and storage and handling trucks.
Due to recent program changes, more storage and handling equipment is eligible than ever before. Those interested should contact their local FSA office to find out if storage or facility needs are eligible for this program.
FSA also offers a variety of different direct and guaranteed farm operating and ownership loans that can help producers to purchase farmland, repair buildings, purchase operating expenses, and cover costs associated with soil and water conservation. To learn more, visit fsa.usda.gov/farmloans.
For a number of programs, annual payments are processed in October. County offices will be running many reports in the coming month to ensure that all paperwork, contracts, and payment information is correct. If one needs to make any changes to his/her operation organization or bank account this year, make sure the local office is aware before payments are processed. Payments can be delayed if information has changed and the office is not informed.
To find the local office contact information, visit offices.usda.gov.