For example, those who want to apply for a loan for farm ownership must have a minimum of three years of experience in business operations on a farm or ranch. Likewise, those applying for a loan to operate a farm must meet the FSA's education, on-the-job training, or agricultural experience requirements. Microloans are a type of operating loan or agricultural property. They are designed to meet the needs of small and beginning farmers, or for non-traditional and specialized operations, as they simplify some of the requirements and offer less paperwork.
Agricultural loans include loans to finance the production of crops, fruits, vegetables and livestock, or to finance the purchase or refinancing of capital assets, such as farmland, machinery and equipment, breeding livestock, and agricultural real estate improvements. Key laws and regulations that relate to institutions overseen by the FDIC; note that other laws and regulations may also apply.
