Aquaculture facilities now included in USDA loan program
The U.S. Department of Agriculture Farm Storage Facilities Loan program has been extended to include aquaculture, thanks to efforts by the Maine Farm Service Agency, the Maine Aquaculture Association and the Maine Sea Grant Program at the University of Maine.
“This program can provide financing on favorable terms for things such as construction costs and equipment used in a storage facility for aquacultured products: coolers, graders and food safety equipment, bagging and boxing equipment, and even upwellers,” says Dana Morse, Extension associate at Maine Sea Grant and University of Maine Cooperative Extension.
“There’s a lot of applicability here for aquaculture producers here in Maine and nationwide.”
Val Dolcini, USDA Farm Service Agency administrator, recently announced the extension of the program, which provides low-interest financing to producers to build or upgrade storage facilities.
“For 15 years, this program has provided affordable financing, allowing American farmers and ranchers to construct or expand storage on the farm,” says Dolcini. “By adding eligible commodities, these low-interest loans will help even more family farmers and ranchers to expand on-site storage.”
On average, about 1,600 new loans are made each year, according to the USDA. The loans are designed to assist a diverse range of farming operations, including small and mid-sized businesses, new farmers, operations supplying local food and farmers’ markets, nontraditional farm products and underserved producers.
To learn more, visit fsa.usda.gov/pricesupport, or contact a local FSA county office. To locate local FSA county offices, visit offices.usda.gov.
Contact: Beth Staples, 207.581.3777