Next Generation Farmer Loan
Pennsylvania has a rich agricultural history. The work ethic and dedication to the land exhibited by our farmers has made agriculture Pennsylvania's number one industry. To ensure that our rich agricultural traditions are handed down to the next generation, the Commonwealth has developed the Next Generation Farmer Loan Program. The purpose of the program is to provide an effective means for federal-state-industry partnerships, whereby the public sector can assist beginning and first time farmers to purchase land, farm equipment, farm buildings and breeding livestock.

The program uses federal tax exempt mortgage financing to reduce a farmer's interest rate for capital purchases. The program may be used between a borrower and lender for a loan to make a direct purchase of farm and agricultural machinery and equipment or between a buyer and seller for a contract purchase. The tax exempt interest income to the lender or contract seller enables them to charge the borrower a lower interest rate, which is exempt from federal, state and county taxes.
 

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NOTE: If you have any questions, contact Sue Milshaw at 610.458.5700 x239.

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