Show J 9 Farmers Home Administration Gives Big credit boost aid to Agriculture Industry Home Administrate ion A United States Depart lent of Agriculture 2 supervised credit to 5 imily farmers for the pur-I improvement or enlarge- farms or to refinance Farm Ownership loans Lg for tree production or forest or to fi-wace recreation enterprises will supplement farm These loans arc made only JP family fanner a unable to needed credit from source at reasonable rates and feO MAY Individuals who operate a farm on cither a full or basis are eligible for Farmers Home Administrate Along with he just have a farm Inning experience or lid the ability to manage a Income from and livestock must make tip a substantial portion of the Irmer's total income after the is The applicant must also be to obtain needed operating including livestock and ownership Kan uses I loans may bo Ed to buy or enlarge improve or repair homes and farm service to drill wells and improve water supply for home livestock id and to refinance They also may be used develop and Improve farm including clearing and leveling land or the establishment and Improvement of farm In these loans may be used to produce fish under controlled and to finance income-producing recreational SIZE OF Farm ownership loans vary considerably in depending upon the applicant's a borrower's total indebtedness against the security may not exceed TERMS AND An interest rate of 5 a year is charged on the unpaid principal except that a 3 rate is authorized for loan funds used for forestry purposes under an approved forestry management Loans are scheduled for repayment over a period not to exceed 40 SECURITY Each loan will be adequately secured to protect the Government's A mortgage on the entire farm is taken to secure any loan of more than and any loan to be repaid in more than 10 years A loan of not more than this amount may be secured by a mortgage on the farm chattels or other suitable FARM AND HOME MANAGEMENT provides all borrowers with sound farm and home management advice in order to make sure that loan funds will be backed up with the most profitable use of their capital and other resources available to Advice and assistance are furnished by the county supervisor in keeping farm family records so the borrower can make maximum use of all especially income and Also provided is on-the-farm assistance through a long-range with specific financial and family living TYPES OF FARMERS Types of farmers using farm ownership loans Farm families who need credit for land 2 Established farm families irio need financial assistance to improve their land or Farmers in financial difficulties due mainly to causes beyond their control who need long-term credit for financing Farmers with inadequate income who need to supplement their farm income with earnings from other sources such as a recreational enterprise Additional information on ownership loans may be obtained at the Roosevelt Farmers Home Administration office located m the Post Office The regular office day la every Monday from 8 a.m. until 5 |