Rural Youth Initiative $5.000 Loans Available The Farm Service Agency makes loans to rural youths to establish and operate income-producing projects in connection with 4-H clubs, FFA and other agricultural groups. Projects must be planned and operated with the help of the organization adviser, produce sufficient income to repay the loan and provide the youth with practical business and educational experience. The maximum loan amount is $5000. Youth Loan Eligibility Requirements: Be a citizen of the United States (which includes Puerto Rico, the Virgin Islands, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands) or a legal resident alien Be 10 years to 20 years of age Comply with FSA’s general eligibility requirements Reside in a rural area, city or town with a population of 50,000 or fewer people Be unable to get a loan from other sources Conduct a modest income-producing project in a supervised program of work as outlined above Demonstrate capability of planning, managing and operating the project under guidance and assistance from a project advisor. The project supervisor must recommend the project and the loan, along with providing adequate supervision.
Posted on: Wed, 29 Jan 2014 19:17:31 +0000
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