Beginning and Socially Disadvantaged Farmer and Rancher Land Contract Guarantee Program
USDA has announced the nationwide launch of the Beginning and Socially Disadvantaged Farmer and Rancher Land Contract Guarantee Program.
The program is administered by the Farm Service Agency and is designed to help new farmers buy land by providing sellers a federal guarantee on land contract sales of up to $500,000. In this way, it shields sellers from the risk of buyer default and encourages them to enter into such agreements with new and disadvantaged farmers.
The program was initially established in nine states through the 2002 farm bill. The 2008 farm bill expanded it nationwide and made it permanent. USDA’s Farm Service Agency issued the final rule for the program last December. In order to find out more about the program, contact your local FSA office.
Farm Bureau has various initiatives to support beginning farmers and ranchers. In 2009, Farm Bureau partnered with USDA’s National Agricultural Library to provide information and training to beginning farmers and ranchers through the Start2Farm website, a resource site funded through the USDA Beginning Farmer and Rancher Development Program. American Farm Bureau is also hosting the Beginning Farmer and Rancher Conference in conjunction with the national Young Farmers & Ranchers Leadership Conference February 18-20 in Grand Rapids, Michigan.
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