– The deadline for repaying loans to farmers has been extended for another 3 months to August 31, 2020, following a presentation by the state government.
Agricultural loans are available for farming purposes. Farmers can apply for loans for cultivation of cereals as well as purchase of equipment for occupations such as horticulture, aquaculture, animal husbandry, floriculture. There are also special loans for purchasing agricultural machinery such as tractors, harvesters and trucks. Loans can also be taken for construction of biogas plants and irrigation systems as well as purchase of agricultural land. Here is some information about agricultural credit and loans provided by us.
Farm operating loans Operating loans help farmers with day-to-day needs or expansion needs. They come in direct and indirect options. Indirect loans are provided by a private lender but can be guaranteed by the FSA. This loan is more guaranteed, up to 95% of the indirect loan amount. Private loans can be taken due to other circumstances.
Farm ownership loans Like operational loans, proprietary loans offered by FSA come in the form of guaranteed and direct loans. It has the same interest rate as an operating loan. This money is needed directly to buy land, livestock, crops or machinery, which is needed to acquire ownership of a farm for commercial production. In addition to the credit requirement the farm owner must have experience in the farming industry to promise the successful operation of a new business
Government crop financing fill out of the time limit in have increased. Crops filled in the time limit of 3 months increased endeavors are. Advance crop financing to pay the final date of 31 May was. However now crop lending 31 August until the fills can be. You know also that courses pestilence wake of crop financing term boost for the government in several presentation had been.
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