As founded by the Beginning Farmer definition, loan candidates enthusiastic about the advance payment loan may well not have a lot more than 30 % regarding the average size farm during the time of the application form. The applicant may meet or exceed the 30 percent following the loan is closed. Probably the most current Census of Agriculture information is found in this calculation.
The most loan quantity for a “regular” Direct Farm Ownership loan is $600,000. The most loan quantity for a Joint Financing or Participation Farm Ownership loan is $600,000.
Direct Farm Ownership advance payment optimum loan amount works differently. The most loan quantity under this loan system shall perhaps maybe maybe not meet or exceed 45 per cent of whichever may be the reduced quantity of: