That is why we developed a loan program specifically designed for the young and beginning farmers of south Alabama.

To learn more about our New Generation Loan Program, including funding requirements and limitations, contact your local Alabama Ag Credit office.

Who is a young or beginning farmer?

• Young farmer — a farmer, rancher, or producer or harvester of aquatic products who is age 35 or younger as of the date of the loan transaction.
  
  
• Beginning farmer — a farmer, rancher, or procuder or harvester of aquatic products who has 10 years or less of farming, ranching or aquatic experience as of the date of the loan transaction.

What is the New Generation Loan Program?

Through our New Generation Loan program we provide competitive financing for young and beginning farmers to the full extent of their creditworthiness. This loan program offers reduced loan closing costs and underwriting standards for the purchase or refinancing of land.

Eligibility

Eligible borrowers must fit the definitions of a young or beginning farmer, must be the sole owner or operator of the security, have some prior agricultural production experience. It is our intent to benefit individuals whose primary vocation is farming and agribusiness. Borrowers requiring a co-signer as a credit enhancement are also eligible.

Loan Size

Without a government guarantee, a borrower may finance up to $250,000. With a guarantee, the maximum loan amount is $500,000. To help borrowers obtain additional down payment toward a purchase, we give consideration to joint financing.

Sponsorships and Donations

Alabama Ag Credit is committed to supporting the state’s new generation of producers. Whether it’s a 4-H member buying a show heifer for a foundation herd, a young person taking over the family farm, or an older couple investing in a new ag venture, we applaud their efforts. We sponsor or donate to numerous organizations that help educate young and beginning farmers. These organizations include:

• Alabama Young and Adult Farmers
• Alabama Extension Service Records and
  Analysis Group
• 4-H
• FFA
• Alabama Council of Cooperatives'
  Youth Conference
• Farm Credit System Founcation
• Farm-City Week programs
• Agriculture trade shows and commodity tours
• Alabama Agriculture and Forestry LEADERS Program
• Alabama Agribusiness Council