Friday, July 16, 2010

State Grant Program For Starting Or Expanding A Farm!

$100,000 Grant Program Announced For Farmers

Although this is not a new government grant program, they have added additional funding!

In an effort to assist with the challenges associated with starting or expanding a farming or ranching operation one state Commissioner has announced the addition of an additional $100,000 in grants through one of the state's grant programs. This grant program program, which has already awarded $100,000 to 13 eligible farmers is designed to help young farmers enter or enhance a production agriculture career!

Says the Commissioner, "As our population increases, we must do what we can to recruit new agriculture producers and assist current ones with expanding operations to meet the growing demand on our food and fiber supplies. Starting a career in production agriculture is a huge financial investment, and through this grant program we can help give young farmers the capital they need to start or expand much-needed operations.

These grants are available to individuals who are at least 18, but younger than 46.

Applicants must make dollar-for-dollar matching expenditures to sustain, create or expand the proposed projects.

The individual grant limit per application is $10,000!

The rising age of state farmers, combined with the small number of young people choosing farming as an occupation, raises concerns about whom will fill the gaps of providing food and fiber in the future and that is why this grant program is so important.

In addition to this grant program the state includes 3 programs designed for eligible applicants who wish to establish or enhance their farm or ranch operation, or establish agriculture-related businesses:

  • This loan program provides guarantees based on a tiered structure not to exceed $750,000 or 70 percent of the loan amount, whichever is less. The program also provides an interest rebate of up to $5,000 per year to eligible borrowers as part of the guarantee process.

  • Another program can facilitate commercial lending that may result in below-market interest rates. Eligible applicants must intend to use the proceeds under this program in a manner that will help foster the creation and expansion of an agricultural business in the state.

  • This program offers young farmers greater rate reductions. The program is open to any person at least 18, but younger than 46, who proposes to use the proceeds to help foster the creation and expansion of an agricultural business in the state.

For more information about this and other grant programs, visit the website and click on Grants/Funding.

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