To encourage the next generation of farmers, American AgCredit has introduced a new interest-free loan program for high school-age 4-H and FFA members who raise livestock to show at fairs.
American AgCredit, an agricultural lending agency based in Santa Rosa, announced it will make $125,000 available annually for loans through its “AgYouth” program. Students will be loaned money to buy and feed an animal as part of a supervised farming project through the 4-H or Future Farmers of America. When students sell their animals at the fair, they only repay the amount borrowed, with no interest or processing fees. The program aims to keep kids down the farm.
It’s harder and harder for young people to get into agriculture. We are offering this program as an avenue to assist the next generation of farmers,” said Terry Lindley, senior vice president of marketing for American AgCredit. Lindley said the program encourages students to develop budgets, keep accurate records and honor loan obligations.
Lindley said the program would be available in Sonoma, Napa, Lake, Mendocino, Humboldt and 20 other counties in California where American AgCredit serves as an agricultural lender. The money will be loaned on a first-come, first-served basis each year until the $125,000 fund is depleted.
The program, now accepting applications, covers loans for dairy, beef, sheep, swine and goat projects.
