Farm Credit Midsouth realizes the future of agriculture rests with the young and eager agriculturalists who want to raise families on their own farms and continue the traditions our local communities hold so dear. However, due to current economic and political trends, the agricultural industry is not always kind to young, beginning and small farmers. In order to encourage and assist these budding agriculturalists, Farm Credit developed a program to meet the specific needs of the next generation of farmers and ranchers.
If you meet the criteria above and farm within our territory in Northeast Arkansas and Southeast Missouri, call or stop by our nearest location to find out more about how we can help you with your operation.
One of the most significant challenges for many YBS farmers with little or no agricultural income or assets is complying with traditional loan underwriting standards. Typically, YBS farmers often have a combination of little or no assets to pledge as collateral, little or no historical production records and little or no on-farm management experience. To provide sound and constructive credit, Farm Credit Midsouth has adopted the following enhancements to credit underwriting standards for YBS farmers for a five-year period.
Transaction limit is ≤ $501,000
LOC limit is ≤ $751,000
Farm Credit Midsouth will offer a higher risk loan program to beginning farmers (10 years or less farming experience) that cannot qualify under the YBS farmers underwriting standards or traditional credit programs.
Start-up loans will have the same requirements as YBS farmer loans except for the following: