Young, Beginning, Small & Veteran Farmer Incentives
Farm Credit East’s Young, Beginning, Small and Veteran Farmer Incentive program (YBSV) is designed to help this growing customer segment get started in agriculture through special incentives to program participants.
Incentives include discounts on the following services for a period of up to five years:
- Farm accounting and management software
- Tax preparation
- Discounts on Farm Service Agency guaranteed loan fees
- Interest rate assistance
Who is eligible?
Young: A farmer, rancher, producer or harvester of aquatic products who is 35 years or younger as of the loan transaction date. This criterion must be met in order to be eligible for incentives.
Beginning: A farmer, rancher, producer or harvester of aquatic products who has 10 years or less farming experience as of the loan transaction date.
Small: A farmer, rancher, producer or harvester of aquatic products who normally generates less than $250,000 in annual gross sales of agricultural or aquatic products.
Veteran: A veteran farmer is defined as Gulf War-era II veterans who have served anywhere in the world since September 2001.
Contact your local Farm Credit East office to learn more.