Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

USDA expands farm loans for Native Americans farming, ranching on tribal land

 


LAS VEGAS — Agriculture secretary Michael T. Scuse today announced that the U.S. Department of Agriculture has approved and obligated the first loan under the Highly Fractionated Indian Land Loan program (HFIL). The program, made possible by the 2014 Farm Bill, provides revolving loan funds to qualified intermediary lenders, allowing qualified tribes and individuals the ability to purchase tribal farmland that has multiple owners. Scuse made the announcement during the Intertribal Agriculture Council Membership meeting in Las Vegas, Nevada.

“This program was created to address a longstanding barrier to agricultural financing in Indian country,” said Scuse. “Working with intermediary lenders, the program allows USDA to help increase the availability of farm loans to Native Americans who want to start or expand a farming or ranching operation on Indian lands.”

http://www.sunjournal.com/news/connections/2016/12/21/usda-expands-farm-loans-native-americans-farming-ranching-tribal-land/2048502

 

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