Next Generation Farmer Loan Program

Overview

The Next Generation Farmer Loan Program uses federal tax-exempt financing to reduce a farmer’s interest rate for capital purchases, such as the purchase of farm land or agricultural machinery and equipment.

Uses

  • Agricultural land
  • Agricultural improvements
  • Depreciable property

Funding

Maximum loan amount of $520,000 with no more than $62,500 being used toward the purchase of used equipment.

Eligibility

  • Permanent Pennsylvania resident who are at least 18 at the time of the loan application
  • Must meet lender’s credit standards
  • Access to adequate working capital, farm equipment, etc.
  • Borrower must not have had any prior ownership of a substantial portion of land

Terms

The lender determines the interest rate and the terms of repayment.

How to Apply

Industrial Development Authority

Additional Information

Organization and Contact List by County

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