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Low-Interest Capital and Support for New Farmers and Ranchers.

This law establishes a new pilot program providing development loans and guarantees specifically for beginning farmers and ranchers. It aims to help them finance crucial long-term capital investments, such as infrastructure, specialized equipment, or business systems, which are often neglected due to inadequate traditional financing. These loans feature flexible repayment terms and very low interest rates (0-3%), significantly easing the financial burden of starting an agricultural business.
Key points
A new loan program offering up to $100,000 for beginning farmers to cover capital investments that benefit the business for more than one year (e.g., equipment, infrastructure, soil improvement, branding).
Very low interest rates (0% to 3%) and flexible repayment periods ranging from 3 to 10 years, reducing initial financial stress.
Mandatory comprehensive training and support provided to borrowers covering farm management, bookkeeping, and regulatory compliance.
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Additional Information
Print number: 118_S_4441
Sponsor: Sen. Welch, Peter [D-VT]
Process start date: 2024-06-03
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Capital for Beginning Farmers and Ranchers Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4441.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-06-03.

What are the main provisions?

Key points include:

  • A new loan program offering up to $100,000 for beginning farmers to cover capital investments that benefit the business for more than one year (e.g., equipment, infrastructure, soil improvement, branding).
  • Very low interest rates (0% to 3%) and flexible repayment periods ranging from 3 to 10 years, reducing initial financial stress.
  • Mandatory comprehensive training and support provided to borrowers covering farm management, bookkeeping, and regulatory compliance.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Welch, Peter [D-VT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Agriculture Economy