OCR Text |
Show April 2002 Farm & Ranch Edition 9 Loans give youth chance at business By PATSY STODDARD Emery County Progress ! The U.S. Department of Agriculture's Farm Service Agency has youth loans available for youth in the Castle and supplied Tb rent or purchase needed tools and also to pay for operating expenses. These projects really teach the youth responsibility. They have to do record keeping, keep track of their debt repay- Vfclley area. ment and depending on the These loans are available to 0 to youth years f-age establish an income earning project Lori Brady is the FSA loan officer for the Emery Carbon office. She said, These loans are available to youth in Emery and Carbon counties. This is a rural program for communities with a population under 10,000. We can loan up to $5,000 for the project We have many cowcalf operations, also kids who have bought a steer, pig, or lamb to raise for the stock show. There are any number of projects these loans could be used for. We have someone doing lawn maintenance, a boy who breaks horses, and a boy project they keep track of production expenses, production yield, price per pound for their animal and many related items. This is an excellent program, they have up to seven years to repay the loan. A lot of the success of the program 10-2- with his own composting business. One boy used his loan to seed an alfalfa field and when he sold the hay he paid back the loan. Another youth re- stored an old car to resale. The loans can be used to purchase animals, equipment STEEL participants has been the amount of parental support they receive. The youth should facilitate their project with a H dub, FFA organization, vocational teacher or their par4-- Daine Behling started his own composting business with help from the Farm Service ents could support them in their project. Each project is Agency youth loan program. supervised. This program also depends how on ambitious the youth They worry about it and make sure their payments are taken careot Tb begin the procedure are. If they are working for themselves they have a ten- they will fill out an application, dency to work harder, they are we will work out a budget to more dependable, reliable and see if it cash flows; we do not responsible. give under secure loans. For I have had kids with a loan example, if they buy a cowcalf payment coming due and they then the animals are used as will call me and say, T wort collateral The parents sign an be getting my check for the agreement to support the stock show until next week. youth. The youth submits an ROOFIUGSIDING "DO IT YOURSELF MfSIMf IUIB worth. It teaches them to be better shoppers and budget their money. I've always thought a Continued on page 10 More than you think. More options. More services. More of your needs met. Call your Farm Bureau agent today to discover your options. Farm Bureau Financial Services. . . more than you think. BARN DOOR SYSTEM -- outline of the project. The youth do the planning, one boy worked for his father in exchange for hay, it teaches them how much their labor is SITJiH Auto Home life Annuities Commercial Farm A Ranch IRAs Covers 2 after lap "ECONO-RI- B" one Haw savings but man S11.60. Zx20T (al fora FREE Catalogl ESi MWWMrhi Pusan! this ad to Qtt Farm Bureau financial services Am prim hummct Investment! (801)768-333- 2 W MkHva.y.y (Mil I CtVitVYtVtfciafeW |