farm-program · Farm Service Agency · Rule · Published 2016-01-21 · Effective 2016-01-21 · 81 FR 3289
Document
Document number
2016-01038
Federal Register citation
81 FR 3289
CFR reference
7 CFR 761
Type
Rule
Action
Final rule.
Category
farm-program
Sub-agency
Farm Service Agency
Publication date
2016-01-21
Effective date
2016-01-21
Abstract
The Farm Service Agency (FSA) is adding Direct Farm Ownership Microloan (DFOML) to the existing Direct Loan Program. The revisions to the Direct Loan Program regulations consist of application, eligibility, repayment terms, and security requirements to better serve the unique operating needs of small family farm operations. The existing Microloans (ML) in the Direct Loan Program already include MLs for operating loans (OL). DFOML is expected to make farm ownership loans (FOs) available and more attractive to small operators through reduced application requirements, more timely application processing, and added flexibility for Youth Loan (YL) borrowers in meeting the farm experience eligibility requirement.