AG TALK USED GRAIN TRAILER UPGRADE

Demonstrated a need for additional on-farm grain storage in an affected county impacted by an eligible disaster.To be eligible for EGSFP, producers must have both:.An eligible producer who certifies that they are socially disadvantaged, limited resource, beginning and veteran farmer or rancher by filing form CCC-860 Socially Disadvantaged, Limited Resource, Beginning and Veteran Farmer or Rancher Certification with FSA will receive the higher 90% cost share rate. This amount is multiplied by the cost share rate of 75% or 90%. For additional information on eligibility and payments, please refer to the initial NOFA for EGSFP that was published in the Federal Register on March 16, 2023.įor applications that have been approved and funded, FSA is using the producer’s self-certified cost of additional on-farm grain storage capacity or drying and handling equipment multiplied by the producer’s share of grain to determine the program payment amount. Therefore, the original application deadline has been modified to Aug. FSA will not be able to approve and fund all eligible applications that have already been received by FSA even with the increase in initial funding. Details will be announced in the coming weeks.Īpproved EGSFP applicants who meet the requirements for payment will receive cost-share assistance for the construction of new or renovated grain storage capacity and equipment required to meet drying and handling needs to support the orderly marketing of commodities in counties affected by these disaster events. For this reason, FSA has secured an additional $40 million in reallocated CCC funds to provide much-needed help to producers and is exploring options outside of EGSFP to do so. 1, 2022.ĭue to the high volume of program applications received, FSA has amended the original Notice of Funds Availability (NOFA) to increase the initial funding amount for EGSFP to $80 million in cost-share assistance.Įven with the $80 million in support for EGSFP– quadruple the original funding allocation – this program will not be able to meet the needs of many producers who are still experiencing storage deficits due to these disaster events. FSA first announced $20 million for this program in March to help producers affected by the December 2021 tornadoes that passed through 11 counties in Kentucky, as well as producers in Illinois, Iowa, Minnesota, Missouri, North Dakota, South Dakota and Tennessee, impacted by the damage or destruction of large commercial grain elevators due to natural disaster events that occurred Dec. Microloans offer a 5 percent down payment requirement, compared to a 15 percent down payment for a regular FSFL, and waive the regular three-year production history requirement.įSA is beginning to issue cost-share assistance payments through the Emergency Grain Storage Facility Assistance Program (EGSFP). In 2016 FSA introduced a new loan category, the microloan, for loans with an aggregate balance up to $50,000. The maximum loan amount for storage and handling trucks is $100,000. The maximum loan amount for storage facilities is $500,000. Since its inception in May 2000, more than 33,000 loans have been issued for on-farm storage, increasing storage capacity by 900 million bushels.įSFL is an excellent financing program for on-farm storage and handling for small and mid-sized farms, and for new farmers. Eligible facilities and equipment may be new or used, permanently affixed or portable. Drying and handling and storage equipment is also eligible, including storage and handling trucks. Eligible facility types include grain bins, hay barns, bulk tanks, and facilities for cold storage.

Eligible commodities include grains, oilseeds, peanuts, pulse crops, hay, honey, renewable biomass commodities, fruits and vegetables, floriculture, hops, maple sap, milk, cheese, yogurt, butter, eggs, meat/poultry (unprocessed), rye and aquaculture.

AG TALK USED GRAIN TRAILER UPGRADE

The Farm Storage Facility Loan Program (FSFL) provides low-interest financing so producers can build or upgrade facilities to store commodities.

Ag talk used grain trailer