Established in 1862, the Department of Agriculture serves all Americans through anti-hunger efforts, stewardship of nearly 200 million acres of national forest and rangelands, and through product safety and conservation efforts. The USDA opens markets for American farmers and ranchers and provides food for needy people around the world.
Uses and Use Restrictions
The Interest Assistance Program can be provided for Operating Loans (OL).
Under the interest assistance program, FSA will subsidize 4 percent of the interest rate on loans to qualifying borrowers.
Operating Loans (OL) may be used: (1) to finance livestock or farm equipment; (2) to pay annual operating expenses or family living expenses; or (3) to refinance debts under certain conditions.
Lines of Credit (LOC) are operating loans for annual operating loan purposes.
Funds may be advanced and repaid (revolve) throughout the year.
The total loan limit for a guaranteed loan cannot exceed $731,000.