Series I Farm Real Estate Loans
Farmers who are having difficulty qualifying for conventional loans may apply for a Series I Farm Real Estate Loan. Loans can be used to purchase real estate (land, buildings, improvements); up to a 15-year term for as much as 95% appraised value; interest rate is prime plus 1.75% variable; North Carolina Agricultural Finance Authority (NCAFA) must be able to obtain FSA guarantee on loan; NCAFA is lender and services the loan.
Series II Beginning Farmer Loan Program
Young farmers beginning land ownership may apply for the Series II Beginning Farmer Loan Program. NCAFA loans 60% of the need to farmers who obtain 30% from FSA's down-payments loan program; farmer makes 10% down payment; interest rate is prime plus 1.75% variable.
Series III "Ag Start" Beginning Farmer Loans
Beginning farmers may apply for an "Ag Start" loan. This is a joint farm real estate lending program with Farm Credit Services (North Carolina). NCAFA makes 50% of loan with FSA guarantee, subordinated to FCS.
Facilities Disaster Loans
Farmers sustaining damage to farm buildings and structures due to natural disasters may apply for a Facilities Disaster Loan. NCAFA makes low interest loans to repair farm buildings and structures. State appropriation.
Agribusiness Loans
Agribusinesses that are providing value added processing or support for other facets of agriculture may apply for an Agribusiness Loan. Loans typically have a loan guarantee provided by Rural Development, USDA.
Tax-Exempt Agricultural Development Bonds
Acting as conduit issuer for agribusiness processing, Ag related manufacturing or Ag waste disposal, in order to facilitate lower (tax exempt) interest rates. NCAFA has statewide bond authority.