“We’re testing a program to provide beginning farmers and ranchers with training and combined savings of $1000 toward purchase of a farm asset,” commented Wyatt Fraas with the Center for Rural Affairs. “Participant eligibility is based on the Farm Service Agency definitions for “beginning farmer.”

According to the Farm Service Agency, a beginning farmer is defined as one who:

• Has not operated a farm or ranch for more than 10 years
• Does not own a farm or ranch greater than 30 percent of the average size farm in the county as determined by the most current Census for Agriculture
• Meets the loan eligibility requirements of the program to which he/she is applying
• Substantially participates in the operation

The applicant will contribute a regular monthly savings deposit; develop a business plan for their farm/ranch; meet with a mentor to discuss farm/ranch plans; and plan to purchase land, farm assets, or education with the savings.

The Center for Rural Affairs will select applicants for the program; match applicant savings up to $500, and review the process with the applicant.

According to Frass, IDA programs are common for helping low-income people learn to save and to purchase productive assets, education, or housing.

Space is limited for this opportunity. Application materials must be completed by May 15, 2014.

For more information and for application materials contact: Wyatt Fraas, wyattf@cfra.org or 402.254.6893.