Fruit and vegetable growers are now eligible for federal low-interest financing to build or upgrade cold storage and handling facilities, according to the California Department of Food Agriculture.
The maximum amount of a loan through the federal Farm Storage Facility program is $500,000, according a news release from CDFA. Participants are required to provide a down payment of 15%, with U.S. Department of Agriculture’s Commodity Credit Corporation providing a loan for the remaining 85% of the net cost. Loan terms of seven, 10 or 12 years are available depending on the amount of the loan, according to the news release.
USDA changed its Farm Storage Facility program to be in line with the 2008 Farm Bill, according to CDFA, and applications must be submitted to the federal Farm Service Agency county office that maintains the farm’s records.
For more information, visit an FSA county office or www.fsa.usda.gov.