Wine and Dine Design

Achieving financial solubility is the goal of any troubled business, especially when the global economy is in such dire straits. American agriculture has suffered as much as any other industry, facilitating the need for more agricultural loans to keep rural households and businesses afloat. Examining both federal and private assistance programs will benefit any struggling farmer.

Loans from the private sector are hard to acquire without a federal guarantee, which in turn, can also be quite hard to acquire. If you have been denied assistance by a private lender, it is quite possible that you applied for a program that wasn’t best suited to your needs. If you live on agricultural property, but do not commercially generate any crops for profit or fall below a certain margin, you do not need to apply for a full-blown commercial farming loan.

Conversely, if you are a farm that was once profitable, but have been hit by unexpected hardship, you may want to look into federal assessment before running to your bank for a loan. The Farm Service Agency operates under the large banner of the United States Department of Agriculture, and is designed to help struggling farms qualify for private borrowing instead of relying on government money.

This is accomplished in several ways, beginning with a FSA employee working with a struggling farm personally to figure out ways to achieve profitability. Once an operation has met the standards for a private loan, the government has the power to approve or deny the private assistance, as well as set up strict payment plans that will prevent the debtor from falling back into trouble.