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Expand USDA Micro-Loan Program for Farmers
- Published Date
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- Well Being In the Nation Network
The Department of Agriculture's (USDA) Microloan Program gives small loans. These loans are for farmers who are young, disadvantaged, veteran, or new farmers. This is important because new farmers often struggle to get loans. Farmers with smaller or more diverse operations can also have a hard time getting loans. This is often because they don't have a credit history or because it is more risky to lend to them. This program has smaller loans with a quicker application and flexible requirements, which help struggling farmers.