The purpose of the Beginning and Expanding Farmer Loan Program (aka Aggie Bond Program) is to provide affordable financing to new farmers for financing capital purchases.
The Aggie Bond Program allows the lender to avoid paying income taxes on interest the lender receives from the borrower. The lender passes on this savings to the borrower in the form of a lower interest rate. The state of Oregon does not provide a repayment guarantee of the Aggie Bond. The lender assumes all credit risks, and the borrower is solely responsible for repaying the Aggie Bond.
A person must:
Be an Oregon resident
Have a net worth of no more than $750,000
Be a principal user of the farm and materially and substantially participate on the farm
Have never owned/operated a farm that was larger than 30% of the county's median farm size
The maximum Aggie Bond financing is $520,000. Aggie Bond financing can be used for:
Purchase of farm land
Costs of depreciable farm property. Financing of new depreciable property (such as construction of farm buildings and new equipment) is limited to $250,000. Financing of used depreciable farm property is limited to $62,500.
Most entities that are in the business of making agricultural loans (such as commercial banks and Northwest Farm Credit Services) are eligible to be Aggie Bond lenders. A lender may not be a substantial user of the financed property, or related to a substantial user of that property. The Aggie Bond Program has some unique features, and works most easily with eligible lenders who have reviewed the program requirements and expressed an interest in participating.
Pandemic Response and Safety Grant Program (PRS)
Agricultural Marketing Service · Due Nov 22
- Nutrition & Food Safety
- Disaster Relief
- Farmers Market
- Technical Assistance
- Public Health
ACRE3 Irrigation Hydropower Programs
Colorado Department of Agriculture
- Cost Share
- Hydro Power
- Alternative Energy
- Water Management
Agricultural Loan Guarantee Program (ALG)
Texas Agricultural Finance Authority
- Land & Ownership
Nebraska Center For Rural Affairs
- Land & Ownership
Maximum Award Amount
Updated July 19, 2021
This information was gathered from public sources. Ambrook is not responsible for or able to affect the results of any financial programs listed, nor are they responsible for any incorrect information that is listed or is on the hyperlinked external sites. All information is subject to change.