The U.S. Department of Agricultures Farm Service Agency makes operating loans to farm kids 10-20 years old to start up and operate income producing agriculture projects.
Interest rates are determined based on the cost of money to the Federal Government and is locked in when the loan is made.
The FSAs John Lejardi says the Farm Service Agency is the USDAs principal agency charged with promoting a stable and abundant American food supply, and points out that this program gives the next farming generation a foot-up when their turn comes. Simply put, Rural Youth Loans is vital investment in future of U.S. agriculture.
The FSA stresses that the project should be small and are targeted toward kids involved in 4-H and FFA projects and they must be closely supervised by a 4-H supervisor and they must produce enough income to pay off the loan and more importantly give the kids practical business and education experience.
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