Launching a farming enterprise can be an anxiety-producing
experience. MidAtlantic Farm Credit’s StartRight Program for
young, beginning, small, and minority (YBSM) farmers
replaces the uncertainty with a support system that
incorporates three key resources to help ensure success:
access to credit, mentoring and research, and education.
If you are a young, beginning, small, or minority farmer, we
are ready to help you with a special credit program. This
program is designed to help you access credit and build the
foundations for a successful operation.
Here’s how:
Low Interest Term and Operating Loans
Starting a farm operation takes a lot of capital. Whether
you want to purchase land or equipment or just purchase seed
or
fertilizer, the StartRight program offers low interest term
and operating loans to help you get started right.
Low Interest Best Management Practice (BMP) Loans
Efforts to improve water quality and implement federal
and/or state approved agricultural conservation practices,
manure management and other BMPs can be difficult to afford.
For the portions of projects not covered by federal or state
cost share programs, or other water quality interest subsidy
programs, MidAtlantic offers low interest loans to encourage
the adoption of these best practices.
FSA or Other Government Agency Loan Guarantee Fee
Reimbursement
Sometimes it’s necessary to obtain Farm Service Agency (FSA)
or other government agency loan note guarantees. In those
cases, we may be able to reimburse 50% of the
initial loan note guarantee fee up to $1,000 for YBSM
borrowers.
Farmland Financing Program
We realize that one of the greatest challenges facing
farmers today is the acquisition of farmland. That’s why
we’ve developed the StartRight Farmland Financing program.
This program will grant an interest only period loan to
allow you to keep debt service low while seeking easement
funds. And, this program is available for all farmers, not
just young, beginning, small, and minority. You just have to
have an
on-going agricultural operation that is managed by the
person or persons making the loan application under the
StartRight program.
Are you eligible?
The credit programs are designed for customers who have less
than $2 million in annual gross sales of agricultural
products and who, in addition, meet at least one other of
the following criteria:
Young - 35 years of age or younger on the date of
loan closing
Beginning - 10 years or less of agricultural
experience
Minority - American Indian or Alaskan Native, Asian,
Black or African American, Native Hawaiian or other Pacific
Islander, a person whose ethnicity is Hispanic or Latino,
regardless of race, and women. Minority borrowers must own
at least 51% of the operation
Mentoring and Research Resources
Sometimes you need a helping hand. If you would like
to learn more about our mentoring/resource program, please
click
here.
StartRight Education
MidAtlantic offers educational opportunities to farmers
through our events, scholarships, partnerships with ag
associations, and sponsorships, and continues to seek ways
to expand its offerings. Click this
link for more information
on educational opportunities.
How do you get started?
If you are a young, beginning, small, or minority farmer,
complete this form and we will mail you out
a resource pack to help you get started. If you'd like
to talk to someone immediately, please contact your local MidAtlantic Farm Credit office, or call toll-free
800.442.7334.
*must reside in the mid-atlantic region (MD, DE, PA, VA, WV). All other locations, click here to find an office near you.
This is not an offer of services. Any information submitted using e-mail is insecure and may be observed by a third party during the communication.
