Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
Agriculture and Food
Why This Matters
The USDA Loan Modernization Act makes it easier for individuals and groups to qualify for loans to buy or improve farm property. This change helps more farmers get the financial support they need to operate their farms successfully.
If you want to start a farm or improve your land, you may have a better chance of getting a loan.
Who this affects
Farmers · Individuals starting farming
What changes is this bill making?
1This bill allows more people to qualify for USDA loans.
2It changes the ownership requirement from a majority to at least 50 percent.
3It includes new rules for different types of farming entities.
4The bill aims to support farmers who want to operate their own land.
5It helps ensure that more individuals can access funding for farming.
