Source: PRESS RELEASE, 10/12/11
 

North Carolina Farm Service Agency (FSA) announced the lending limit for Guaranteed Loans will be increased to $1,214,000, effective October 1.

The lending limit increases every year according to an inflation index. The maximum combined guaranteed and direct farm loan indebtedness will also be increased to $1,514,000.

North Carolina producers and farmers are reminded that the onetime loan origination fee charged on FSA guaranteed Farm Ownership and Operating loans will increase. The increase, from 1 percent to 1.5 percent of the guaranteed portion of the loan, is for loans obligated after October 1.

For more information about this loan opportunity, or other assistance to farmers, contact local Farm Service Agency offices or call (919) 8754800.