The Farm Service Agency (FSA) makes farm ownership loans to farmers and ranchers who temporarily cannot obtain a loan from a bank, Farm Credit System institution, or other lender due to disaster and financial hardship. Both “guaranteed” and “direct” loans are available through this program.
Under the guaranteed loan program, conventional lenders make the loan, and FSA guarantees it for up to 95 percent of the loss of principal and interest. The maximum FSA guaranteed Farm Ownership loan is $1,094,000. Your lender can tell you if a guarantee is the right loan for you.
FSA provides direct loan customers with supervision and credit counseling so that they have a greater chance to be successful. The maximum direct FO loan is $300,000.
Am I eligible?You must operate “family-sized farm” and be unable obtain credit elsewhere.
Applicants must have enough money to repay the loan and enough collateral to fully secure it. View more information about eligibility criteria on the FSA website.
How do I apply?Learn more about the Farm Ownership Loan Program and how to apply.
Online: Locate your North Dakota County FSA office.
Phone: Contact the North Dakota State FSA office at 701-239-5224.
