The agricultural landscape in America is undergoing an exciting transformation, and if you’re a new farmer, this shift presents incredible opportunities. A recent study by the University of Arkansas System Division of Agriculture sheds light on these changes, offering valuable insights for those venturing into farming.
Over the past decade, federal credit programs, especially those by the Farm Service Agency (FSA), have played a pivotal role in increasing access to credit for new farmers. FSA loans have been particularly crucial for beginning mid-sized family farms with annual sales between $350,000 and $1 million. Approximately one in four of these operations have utilized FSA loans to facilitate easier entry into farming.
Despite the increase in new farming operations, the average farm size increased only slightly, indicating a shift in land usage for purposes like urban development. This underscores the importance of programs that support smaller, beginning farmers.
Stone Bank is committed to supporting new farmers on their journey into the agricultural industry and established operations as they grow and evolve. As a Top 10 FSA lender, we understand the unique challenges farmers face, and we’re here to provide tailored financial solutions and guidance to help you thrive in this changing agricultural environment.
For a deeper dive into the findings of the study, check out the full article HERE.