Lenders will be allowed to apply for more than one land-loan guarantee, a move aimed at cutting down on fraud.
The Land-Aid Guarantee Program is designed to help the poorest farmers in the U.S. avoid foreclosure on their land.
It was created by the Department of Agriculture in the 1990s to help farmers who didn’t qualify for federal loans.
The program has helped more than 10 million farmers.
The USDA has been using land-loan guarantees since 1997, according to a Congressional Research Service report.
For example, the program has been used to help help nearly 2.5 million farmers avoid foreclosure.
Now, however, the USDA is seeking to give land-lot holders a new option: a guarantee.
“The program provides a way to help those with fewer assets to get a loan and make repayments,” the USDA said in a statement.
That means it will now be easier for some farmers to get the land-backed loans they need.
One of the problems with the program is that the loans are not guaranteed by the federal government, and it is unlikely they will be repaid.
Land-backed loan guarantees can cost between $1,000 and $3,000.
Some farmers have been left in the dark.
Farmers who don’t qualify, or whose loans are too high, could be left in arrears on their loans.
Under the new program, the Treasury will lend up to $5,000 to a farmer to help pay for the loan.
Agricultural Secretary David Titley said farmers could use the program to help them get a $2,000 loan to buy a house.
And the program will help pay the interest on loans that already exist.
What does it do for me?
The program will allow farmers to use land-back guarantees to make payments to a bank, and will pay back loans when they are repaid.
The Treasury will pay for these payments if the loan is repaid within 90 days.
I don’t have the money to pay it.
A new rule requires the Treasury to reimburse farmers if they have less than $3 million in cash on hand.
This could mean that farmers will need to pay back their loans quickly.
Why does the program need to be reformed?
Since the 1990-91 farm bill passed, the government has loaned nearly $4 trillion to farm operations.
At the time, there was a huge cash crunch.
The government has also been able to borrow money through the farm bill.
In 2017, the economy was already struggling, so farmers were worried about their finances.
But farmers were still able to access land loans through the program because they didn’t need to use the federal Farm Bill.
According to the Agriculture Department, the farm program is the fastest-growing federal program, contributing $4.3 trillion to the economy in 2018.
How will the program be paid for?
Agribusinesses will be required to pay for land-assistance loans through a new program known as the Land-Assistance Loan Program.
This program will provide loans to farmers to help with loan repayments.
While it is not guaranteed, the Agriculture department is hoping that the program can help farmers make payments on the land they have bought.
Where can I find out more about land-aid loans?
Check out the USDA’s website at www.usda.gov/agriculture.
Read more about the Land Aid Guarantee program on the Agenda blog and AgroWatch.
Image source: USDA