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Show FARMERS MAY BORROW MONEY FOR RECREATION Farmers Home Administration Administra-tion is now accepting loan applications ap-plications from family farmers for the development of recreation recrea-tion enterprises on their farms, according to Brooks Poulson, county supervisor of the agency. agen-cy. Loans also are available to non - profit associations of farmers and others living in rural communities to cover the cost of shifting land to different uses, including recreation. rec-reation. On family farms in Beaver County, among the enterprises' that now may be financed by a Farmers Home Administration Adminis-tration loan are cottages for hunters and fishermen, stables and horses for riding, picnic grounds, boat docks, row boats and equipment for fishing. Associations may use F H A loans to develop a large recreation recre-ation area such as a park or lakeshore, golf course or skiing ski-ing facility; to convert land now being cropped into a grazing graz-ing and forested area, and to establish a wildlife refuge, among other enterprises. Mr. Poulson said that his agency will use its . regular lending programs to finance the new recreation loans. The maximum amount of intermediate intermedi-ate credit farmers can obtain to cover operating costs of a recreation project is $35,000. Under the real estate loan program, pro-gram, they can borrow a maxi- Continued on Back Page HERE'S MORE ABOUT F H A LOANS Continued from Page One mum of $60,000 to develop land and buildings for recreation, Intermediate term loans run a maximum of seven years; real estate loans a maximum of 40 years. In both cases the interest in-terest rate is 5. Recreation loans are aimed at helping family farmers supplement sup-plement their incomes, Mr. Poulson said. His office will assist borrowers in working out a plan for operating the recreation projects to make the best use of all their farming farm-ing resources. Non-profit associations may borrow up to $1 million to fir nance changes in present land use. Maximum intreest rate is 5, and such loans may be made for up to 40 years. "In the West," Mr. Poulson said, "many farmers are already al-ready adding to their farm earnings by part-time seasonal and other activities that serve the needs of vacationers, hunters, hunt-ers, fishermen, . folks participating partici-pating in water sports, and others. Recreation is a growing grow-ing farm and rural business, the equivalent of a good-sized factory payroll in a lot of counties." Full information may be obtained ob-tained at the Farmers Home Administration office, 86 East Center Street, Beaver. |