The U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) Farm Storage Facility Loan Program (FSFL) provides low-interest financing for producers to build or upgrade farm storage and handling facilities. The FSA is authorized to implement the program through USDA's Commodity Credit Corporation (CCC).
Click here to view the fact sheet on the Farm Storage Facility Loan Program. The FSFL Fact Sheet contains information regarding:
· Eligible facilities loan commodities
· Eligibility facilities and upgrades
· Eligible cost items
· Eligibility requirements
· Security requirements
· Maximum loan amount
· Facility Loan Terms
· Cost of obtaining a loan
· Persons required to sign the note
· Where to file the application
· Other pertinent information on the FSFL Program.
CCC-0185 - Loan Application and Approval for Farm Storage and Drying Equipment Loan Program
CCC-191 - County Offices obtain the CCC-191 from the primary contractor(s) for storage and handling facility construction projects to protect CCC from mechanics lien.
CCC-194 - Farm Storage Facility Loan Subordination Agreement (Lien on Real Property). This form is used to determine eligibility for CCC financing for farm storage and drying equipment.
SUMMARY: The Commodity Credit Corporation (CCC) is amending the Farm Storage Facility Loan (FSFL) and Sugar Storage Facility Loan (SSFL) regulations to implement provisions of the Food, Conservation, and Energy Act of 2008 (the 2008 Farm Bill). The 2008 Farm Bill adds hay and renewable biomass as eligible FSFL commodities, extends the maximum loan term to 12 years, and increases the maximum loan amount to $500,000. This rule also adds fruits and vegetables (including nuts) as eligible facility loan commodities and adds cold storage facilities as eligible facilities pursuant to discretionary authority in the 2008 Farm Bill. This rule amends the regulations to clarify requirements for loan security and to allow for a partial loan disbursement during construction if certain conditions are met. This rule amends the FSFL program regulations, which include SSFLs; however, there are no changes to the specific requirements for SSFLs.
DATES: This rule is effective August 17, 2009.
Related Notices and Handbook
· 2.000 % for Farm Storage Facility Loans with 7 Yrs loan terms
· 2.625 % for Farm Storage Facility Loans with 10 Yrs loan terms
· 2.875% for Farm Storage Facility Loans with 12 Yrs loan terms