MEMPHIS — U.S. Agriculture Secretary Tom Vilsack has announced a new microloan program from USDA designed to help small and family operations, beginning and socially disadvantaged farmers secure loans under $35,000.
The new microloan program is aimed at bolstering the progress of producers through their start-up years by providing needed resources and helping to increase equity so that farmers may eventually graduate to commercial credit and expand their operations. The microloan program will also provide a less burdensome, more simplified application process in comparison to traditional farm loans.
"I have met several small and beginning farmers, returning veterans. . .
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