MASON CITY, Iowa – Even though current farmers are worried about the weather, some young farmers are worried about how to finance their first steps in the industry.
On Tuesday morning, the Iowa Agricultural Development Division (IADD) hosted a forum talking about loans and tax credits available for beginning farmers and how to go about applying for the aid.
The beginner farmer program is something that is available through the IADD for those with a net worth of less than roughly $678,000.
It can help out new farmers with the leasing process of farm buildings, equipment, land and livestock and Steve Ferguson, the program specialist for IADD says that helping these farmers will only in turn help our future.
“We’ve got a lot of beginning farmers who are wanting to be full-time farmers,” Ferguson says,” so helping to get the bankers up to speed with the program so that when the beginning farmer comes in and applies to use the low interest-rate loan program, they will be more aware of it and more inclined to work with the farmer.”
Applications for this program are due by the first of the month and all applicants must be a resident of Iowa and at least 18 years of age.