What is the FSA program?
The Farm Service Agency (FSA) through the Farm Loan Programs (FLP) provides direct and guaranteed loans to beginning farmers and ranchers who are unable to obtain financing from commercial credit sources. Farms that come into FSA ownership are sold at market value, with a preference to beginning farmers and ranchers.
What does the FSA agency do?
The Farm Service Agency (FSA) is an agency of the U.S. Department of Agriculture (USDA) that serves all farmers, ranchers and agricultural partners through the delivery of effective, efficient agricultural programs for all Americans.
What is FSA land?
The U.S. Department of Agriculture’s (USDA) Farm Service Agency (FSA) makes and guarantees loans to beginning farmers who are unable to obtain financing from commercial lenders. Each fiscal year, FSA targets a portion of its direct and guaranteed farm ownership (FO) and operating loan (OL) funds to beginning farmers.
What is the FSA interest rate?
Current FSA Loan Interest Rates
| Program | Interest Rates |
|---|---|
| Farm Ownership – Direct, Joint Financing | 2.500% |
| Farm Ownership – Down Payment | 1.500% |
| Emergency Loan – Amount of Actual Loss | 2.750% |
| Effective as of October 1, 2021 |
Who runs the FSA?
Farm Service Agency
| Agency overview | |
|---|---|
| Employees | 10,958 (2018) |
| Annual budget | US$2.035 billion (2018) |
| Agency executive | Richard Fordyce, Administrator |
| Website | fsa.usda.gov |
What are the major USDA Farm Service Agency FSA program areas?
The Farm Programs Division carries out its responsibility through three major program areas, which are the:
- Production, Emergencies & Compliance Division;
- Price Support Division; and.
- Conservation & Environmental Programs Division.
What is a FSA direct loan?
FSA’s Direct Farm Ownership loans are used to: buy a farm or ranch. construct, purchase or improve farm dwellings, service buildings or other facilities and improvements essential to the farm operation. promote soil and water conservation and protection.
How long does it take to get a FSA loan?
Once an applicant provides all the financial and organizational information to the lender, the lender submits a guaranteed loan application to the local FSA office and the request will be approved or disapproved within 30 days after receipt of a complete application.
What is an FSA home loan?
FSA is an agency of the U.S. Department of Agriculture (USDA). You may be able to get a loan or loan guarantee through FSA’s Farm Loan Programs if you are a farmer or rancher who is unable to obtain credit elsewhere to start, purchase, sustain, or expand your family farm.
Is FSA still around today?
In 1946 the Farmers Home Administration Act consolidated the Farm Security Administration with the Emergency Crop and Feed Loan Division of the Farm Credit Administration – a quasi-governmental agency that still exists today.
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