The Farm Ownership Improvement Act requires the Secretary of Agriculture to establish a 5-year pilot program to implement a pre-qualification or.
The Farm Ownership Improvement Act mandates the Secretary of Agriculture to create a 5-year pilot program to streamline the pre-qualification or pre-approval process for farmers and ranchers applying for direct farm ownership loans under the Consolidated Farm and Rural Development Act. The pilot program aims to facilitate access to loans by assessing borrower viability and repayment likelihood using alternative methods, such as financial benchmarking. The Secretary is directed to prioritize outreach to organizations engaged with beginning farmers or ranchers.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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