This fall was a popular time for producers to utilize the Marketing Assistance Loan Program at FSA to take a loan on their corn or soybeans. Producers are responsible for notifying their local office prior to feeding or selling their grain that is under loan.
    If loan grain has been disposed of through feeding, selling or any other form of disposal without prior written authorization from the county office staff, it is considered unauthorized disposition. The financial penalties for unauthorized dispositions are severe, and a producer’s name will be placed on a loan violation list for a two-year period. Always call before you haul or feed any grain under loan. Producers who take out marketing assistance loans and use the farm-stored grain as collateral should remember they are responsible for maintaining the quality of the grain through the term of the loan.
    If interested in taking out a loan on your 2018 stored corn or soybeans there is still time. The deadline is May 31.
    If you still have need for financing for 2019, your local farm loan team is busy working on operating loans so it is important that potential borrowers submit their requests early so they can be timely processed. The farm loan team can help determine which loan programs are best for applicants.
    FSA offers a wide range of low-interest loans that can meet the financial needs of any farm operation for just about any purpose. The traditional farm operating and farm ownership loans can help large and small farm operations take advantage of early purchasing discounts for spring inputs as well expenses throughout the year.
    Microloans are a simplified loan program that will provide up to $50,000 to eligible applicants. These loans, targeted for smaller operations and non-traditional operations, can be used for operating expenses, starting a new agricultural enterprise, purchasing equipment and other needs associated with a farming operation. The staff at your local FSA office can provide more details on farm operating and microloans and provide loan applications. Loans to beginning farmers and members of underserved groups are a priority.
    Farm Service Agency is an Equal Opportunity Lender. Complaints about discrimination should be sent to: Secretary of Agriculture, Washington, D.C. 20250. Visit the Farm Service Agency Web site at: www.fsa.usda.gov/ for necessary application forms and updates on USDA programs.