Farm Storage Facility Loan Program
   HOME

TheInfoList



OR:

The Farm Storage Facility Loan Program is a loan program for the construction and remodeling of storage facilities on farms producing
grain A grain is a small, hard, dry fruit (caryopsis) – with or without an attached husk, hull layer – harvested for human or animal consumption. A grain crop is a grain-producing plant. The two main types of commercial grain crops are cereals and ...
s,
oilseeds Vegetable oils, or vegetable fats, are oils extracted from seeds or from other parts of edible plants. Like animal fats, vegetable fats are ''mixtures'' of triglycerides. Soybean oil, grape seed oil, and cocoa butter are examples of seed o ...
, and
pulses Legumes are plants in the pea family Fabaceae (or Leguminosae), or the fruit or seeds of such plants. When used as a dry grain for human consumption, the seeds are also called pulses. Legumes are grown agriculturally, primarily for human consum ...
. The loan limit for each borrower is $100,000 for up to seven years. The interest rate is equivalent to the rate on comparable term Treasury securities. The program is administered by the
Farm Service Agency The Farm Service Agency (FSA) is the United States Department of Agriculture agency that was formed by merging the farm loan portfolio and staff of the Farmers Home Administration (FmHA) and the Agricultural Stabilization and Conservation Service ...
(FSA). The
2002 farm bill The Farm Security and Rural Investment Act of 2002, also known as the 2002 Farm Bill, includes ten titles, addressing a great variety of issues related to agriculture, ecology, energy, trade, and nutrition. This act has been superseded by the 2 ...
(P.L. 107-171, Sec. 1402) newly mandated storage facility loans for raw and
refined sugar White sugar, also called table sugar, granulated sugar, or regular sugar, is a commonly used type of sugar, made either of beet sugar or cane sugar, which has undergone a refining process. It is nearly pure sucrose. Description The refini ...
.


References

{{CRS, article = Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition, url = https://web.archive.org/web/20110810044532/http://ncseonline.org/nle/crsreports/05jun/97-905.pdf, author= Jasper Womach United States Department of Agriculture programs