What are they?
FSA Youth Loans (up to $5,000) help to finance small projects which are:
- Limited in:
- Physical Size
- Capital Requirements
- Overall Objectives
- Educational Project
Who Can Apply?
10 to 20 year-olds that have, or are interested in starting, an agricultural project that would benefit from additional or start-up funding. Projects might include: Raising and Breeding Livestock, Growing Fruits & Vegetables for Resale, Growing Flowers & Plants for Resale. 4-H and FFA members who may be working with projects or SAEs can use this as an opportunity to help ‘seed’ their project.
What Can the Money Be Used For?
Some examples of uses for loans are:
- Buying animals, equipment and supplies
- Buying, renting or repairing needed tools and equipment
- Paying operating expenses for running the project
What This Can Do For the Applicants:
- Learn how to prepare a business plan
- Develop entrepreneurial skills
- Establish financial and production records
- Demonstrate ability to follow through on a project and repay the loan