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Agriculture Today

New microloan proposal helps small farmers




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June 13, 2012 | 3871 views | Post a comment

RICHMOND, Va. -- Agriculture Secretary Tom Vilsack announced May 23 that the U.S. Department of Agriculture (USDA) has made substantial, year-over-year gains in expanding credit opportunities for farmers and ranchers across the United States. The increase in farm and operating loans has helped improve farmer and rancher productivity, launched new start-up operations, and ensured opportunities in agriculture for many more Americans. With expanded access to credit, the USDA is helping a new generation of farmers sustain and build upon what is now the most productive period in history for American agriculture. To that end, Vilsack announced the Department is seeking comments on a new microloan program to help small and family operations progress through their start-up years with needed resources, while building capacity, increasing equity, and eventually graduating to commercial credit. . . .

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