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Lending limit increased for Farm Service Agency

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news Alexandria, 56308
Echo Press
(320) 763-3258 customer support
Alexandria Minnesota 225 7th Ave E
P.O. Box 549
56308

The U.S. Department of Agriculture's Farm Service Agency (FSA) lending limit for guaranteed loans will be increased to $1,214,000, effective October 1, 2011.

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The lending limit increases every year according to an inflation index. The maximum combined guaranteed and direct farm loan indebtedness will also be increased to $1,514,000.

As a reminder, the one-time loan origination fee charged on FSA guaranteed farm ownership and operating loans will increase from 1 percent to 1.5 percent of the guaranteed portion of the loan, for loans obligated after October 1, 2011.

For more information about this, contact your local USDA Service Center. In Alexandria, the number is (320) 763-3191.

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