Yesterday, we went to a USDA loan service center to fill out the final paperwork for my USDA youth loan for pigs. I am going to write a little bit about the experience for you.
Getting the loan was a long and nervous time. I had to fill out paperwork multiple times and wait approval, write a business plan and estimate all of our farm expenses.
The USDA youth farm loan is for kids from ages 10-20 (The maximum loan amount is $5,000) that live in rural areas who are involved in 4-H or other agricultural programs. Kids can use the loan for livestock or farm equipment for their projects. These projects should make enough income to pay off the loan. You have five years to pay off the loan. Each payment is on January 1st (of course you can pay ahead of time if you want to)
While I was at camp they came and inspected the farm to check out what I was doing and where I will keep the pigs. They also made sure we weren’t going to affect any wetlands or conservation lands. I wasn’t home when they came so my mom answered all their questions.
When we went in for the closing of the loan I had to sign a lot of paper work, It was a good experience to fill it all out I felt like an adult. It is awesome that my dream of having registered stock is finally happening after all the work I have done.
If you want to read in more depth about a Youth Loan here is a link
Here are pictures of the pigs we are getting this weekend. These pictures are from Suwannee Valley KuneKunes