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USDA Posts Farm Service Agency Loan Interest Rates

Published February 2, 2023

The U.S. Department of Agriculture announced loan interest rates for February 2023, which are effective Feb. 1. USDA’s Farm Service Agency loans provide important access to capital to help agricultural producers start or expand their farming operation, purchase equipment and storage structures or meet cash flow needs.

Operating, Ownership and Emergency Loans

FSA offers farm ownership and operating loans with favorable interest rates and terms to help eligible agricultural producers, whether multi-generational, long-time, or new to the industry, obtain financing needed to start, expand or maintain a family agricultural operation. FSA also offers emergency loans to help producers recover from production and physical losses due to drought, flooding, other natural disasters or quarantine.

For many loan options, FSA sets aside funding for underserved producers, including veterans, beginning, women, American Indian or Alaskan Native, Asian, Black or African American, Native Hawaiian or Pacific Islander, and Hispanic farmers and ranchers

Interest rates for Operating and Ownership loans for February 2023 are as follows:

FSA also offers guaranteed loans through commercial lenders at rates set by those lenders.

To access an interactive online, step-by-step guide through the farm loan process, visit the Loan Assistance Tool on farmers.gov.

Commodity and Storage Facility Loans

Additionally, FSA provides low-interest financing to producers to build or upgrade on-farm storage facilities and purchase handling equipment and loans that provide interim financing to help producers meet cash flow needs without having to sell their commodities when market prices are low.  Funds for these loans are provided through the Commodity Credit Corporation and are administered by FSA.

Pandemic and Disaster Support

FSA broadened the use of the Disaster Set Aside, normally used in the wake of natural disasters, to allow farmers with USDA farm loans who are affected by COVID-19, and are determined eligible, to have their next payment set aside. Because of the pandemic’s continued impacts, producers can apply for a second DSA for COVID-19 or a second DSA for a natural disaster for producers with an initial DSA for COVID-19.

The set-aside payment’s due date is moved to the final maturity date of the loan or extended up to 12 months in the case of an annual operating loan. Any principal set-aside will continue to accrue interest until it is repaid. Use of the expanded DSA program can help to improve a borrower’s cashflow in the current production cycle.

FSA also reminds rural communities, farmers and ranchers, families and small businesses affected by the year’s winter storms, drought, hurricanes and other natural disasters that USDA has programs that provide assistance. USDA staff in the regional, state and county offices are prepared to deliver a variety of program flexibilities and other assistance to agricultural producers and impacted communities. Many programs are available without an official disaster designation, including several risk management and disaster recovery options.

Inflation Reduction Act Assistance for Distressed Producers

On Aug. 16, 2022, President Biden signed the Inflation Reduction Act into law. It is a historic, once-in-a-generation investment and opportunity for the agricultural communities that USDA serves. Section 22006 of the IRA provided $3.1 billion for USDA to provide relief for distressed borrowers with certain FSA direct and guaranteed loans and to expedite assistance for those whose agricultural operations are at financial risk. USDA has allocated up to $1.3 billion for initial steps to help these distressed borrowers. This includes both automatic and case-by-case assistance. For more information producers can contact their local USDA Service Center or visit farmers.gov/inflation-reduction-investments/assistance.

Producers can explore available options on all FSA loan options at fsa.usda.gov or by contacting their local USDA Service Center.

USDA is an equal opportunity provider, employer and lender.

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José Sánchez Peñate Dairy, Coffee, Bakery Equipment for Sale

Published February 2, 2023

Gordon Brothers, the global advisory, restructuring and investment firm, is offering for immediate sale by private treaty machinery and equipment from four plants in the Canary Islands formerly leased by the firm to the Spanish food products manufacturer and distributor José Sánchez Peñate.

José Sánchez Peñate primarily produced dairy products from two plants in Tenerife, Spain, and manufactured and supplied coffee and bakery products from two plants in Gran Canaria. The complete plant and available machinery equipment are as follows:

  • Milk plant, including preparation, mixing, sterilization, cooling, packaging and palletizing systems.
  • Yoghurt plant, including raw material reception, pasteurization of milk, mixing station, pasteurization of yoghurt, addition of starter, fermentation, packaging, palletizing, cooling and storage.
  • Coffee plant, including raw materials reception, recipe preparation, roasting, milling, packing of coffee beans for restaurants or ground coffee, packaging, palletizing and storage.
  • Bakery plant, including raw materials reception, kneading machines, forming machines, cutting and boarding, fermentation area, baking and cooling, packaging and palletizing.

“This unprecedented food manufacturing plant sale is already generating global interest and is an amazing opportunity to acquire machinery and equipment worth millions of euros,” said Duncan Ainscough, managing director, commercial & industrial at Gordon Brothers. “With over €95 billion of assets appraised and disposed in the food and beverage industry, we are a trusted partner with a deep understanding of this sector and a strong history in maximizing asset value for companies in Spain and throughout Europe.”

The machinery and equipment is installed and inspections are available by appointment only. To view the full list of available assets, visit Gordon Brothers’ website: www.gordonbrothers.com/JSP.

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USDA Invites Producers, Stakeholders to Urban Agriculture Meeting

Published January 30, 2023

The U.S. Department of Agriculture encourages urban producers, innovative producers and other stakeholders to virtually attend the fourth public meeting of the Federal Advisory Committee for Urban Agriculture and Innovative Production on Feb. 23.

“Since last year, the Federal Advisory Committee has been a source of valuable, on the ground information and recommendations for USDA,” said Terry Cosby, chief of USDA’s Natural Resources Conservation Service, which houses USDA’s Office of Urban Agriculture and Innovative Production. “This meeting will help us better serve urban and innovative producers and their communities.”

The Committee is part of USDA’s efforts to support urban agriculture and innovative agriculture, creating a network for feedback. Members include agricultural producers and representatives from the areas of higher education or extension programs, non-profits, business and economic development, supply chains and financing. Three public meetings of the Committee were held in 2022.

Topics include:

  •  Addressing previous public comments.
  •  Subcommittee and committee deliberations.
  •  Public forum.

The meeting will be held from 3:30-6 p.m. ET on Feb. 23. To attend virtually, register by Feb. 23 on the Committee’s webpage.

Written comments for the urban agriculture meeting must be submitted by 11:59 p.m. ET on March 9 through the Federal eRulemaking Portal. Docket #2022-24020.

For special accommodations, contact Markus Holliday at  UrbanAgricultureFederalAdvisoryCommittee@usda.gov.  \

USDA will share the agenda between 24 to 48 hours prior to the meeting on https://www.usda.gov/partnerships/federal-advisory-committee-urban-ag. Additionally, other resources include the Federal Register notice and the Committee’s webpage.

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