Source: USDA FSIS, 11/13/14

Amendments 28 and 29 to FSA Farm Loan Programs Handbook 2-FLP were recently issued to include the following changes implementing the 2014 Farm Bill:
• FSA’s definition of an entity has been expanded to include certain entities in addition to those specifically listed in the statute.
• FSA’s owner/operator requirement has been modified to allow applicants to own farm real estate through another legal entity. 
• Farm loan applicants are now permitted to have embedded entities provided certain conditions are met. Previously, FSA only allowed entity applicants that were owned by individuals.

The amendments are available at:
http://www.fsa.usda.gov/Internet/FSA_File/2flp1-29.pdf
http://www.fsa.usda.gov/Internet/FSA_File/2flp1-28.pdf

In addition, FSA’s Direct Loan Program has been modified as follows:
• The three year experience requirement for Direct Farm Ownership loans has been modified to allow other experience to be substituted for one of the three years.
• The loan limit for Microloans has been increased to $50,000.