Agribusiness Resources
Farm Storage Facility Loan Program
USDA has made changes to the Farm Storage Facility Loan (FSFL) Program to help small and mid-sized fruit and vegetable producers access the program for cold storage and related equipment like wash and pack stations. Diversified and smaller fruit and vegetable producers, including CSAs, are now eligible for a waiver from the requirement that they carry crop insurance or NAP coverage when they apply for a FSFL loan. FSFL can also be used to finance hay barns and grain bins.
Application Form CC-0185
FSLF Fact Sheet
The Farm Storage Facility Loan Program (FSFL) provides low-interest financing so producers can build or upgrade facilities to store commodities. Since its inception in May 2000, more than 33,000 loans have been issued for on-farm storage, increasing storage capacity by 900 million bushels.
Link: farm_storage_facility_loan_programs_fact_sheet_july_2022.pdf (usda.gov)
Eligible commodities include grains, oilseeds, peanuts, pulse crops, hay, honey, renewable biomass commodities, fruits and vegetables, floriculture, hops, maple sap, milk, cheese, yogurt, butter, eggs, meat/poultry (unprocessed), rye and aquaculture. Eligible facility types include grain bins, hay barns, bulk tanks, and facilities for cold storage. Drying and handling and storage equipment are also eligible, including storage and handling trucks. Eligible facilities and equipment may be new or used, permanently affixed, or portable.
1-FSFL (Rev.3) Handbook
Loan terms vary from 3 to 12 years. The maximum loan amount for storage facilities is $500,000. The maximum loan amount for storage and handling trucks is $100,000. In 2016 FSA introduced a new loan category, the microloan, for loans with an aggregate balance up to $50,000. Microloans offer a 5 percent down payment requirement, compared to a 15 percent down payment for a regular FSFL, and waive the regular three-year production history requirement.
Business Planning
Creating a good business plan takes time and effort. The following are some key resources for planning your business.
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Farm Answers from the University of Minnesota features a library of how-to resources and guidance, a directory of beginning farmer training programs, and other sources of information in agriculture. The library includes business planning guides such as a Guide to Developing a Business Plan for Farms and Rural Businesses and an Example Business Plan.
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The Small Business Administration (SBA) offers information about starting, managing, and transitioning a business.
Mentorship
SCORE is a nonprofit organization with a network of volunteers who have experience in running and managing businesses. The Score Mentorship Program partners with USDA to provide:
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Free, local support and resources, including business planning help, financial guidance, and growth strategies.
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Mentorship through one-on-one business coaching -- in-person, online, and by phone.
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Training from subject matter experts with agribusiness experience.
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Online resources and step-by-step outlines for business strategies.
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Learn more about the program through the Score FAQ.
Training Opportunities
Attend field days, workshops, courses, or formal education programs to build the necessary skills to ensure you can successfully produce your selected farm products and/or services. Many local and regional agricultural organizations, including USDA and Cooperative Extension, offer training to beginning farmers.
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Cooperative Extension offices address common issues faced by agricultural producers and conduct workshops and educational events for the agricultural community.
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extension.org is an online community for the Cooperative Extension program where you can find publications and ask experts for advice