Yes, it’s true, young folks can get a loan and buy farm land. During the past year, I’ve enjoyed helping several young farmers locate and purchase their own farms, ranging is size from 40 to 300 acres, utilizing the USDA Beginning Farmers Loan Program. Great opportunities exist for new farmers, willing to educate themselves and work through the government process.
Whether you’re a young farmer from a multi-generational farm family, or someone that is new to farming, I encourage you to reach-out and ask questions by contacting your local USDA Office. After all, they’re not making any more land, right? And it’s not likely to get cheaper as time goes by.
“Each year, the Farm Service Agency targets a portion of its lending by setting aside a portion of all loan funds for financing beginning farmer and rancher operations.
A beginning farmer is defined as one who:
- Has not operated a farm or ranch for more than 10 years
- Does not own a farm or ranch greater than 30 percent of the average size farm in the county
- Meets the loan eligibility requirements of the program to which he/she is applying
- Substantially participates in the operation”