No-Interest Loans Available For Young Delaware Farmers - WMDT 47 News - Delmarva's Choice

No-Interest Loans Available For Young Delaware Farmers

DELAWARE - Young Farmers looking to buy land in the First State, may be eligible for loan assistance. A new program through the State of Delaware is now accepting applications for long-term, no-interest loans, to help eligible young farmers purchase land. Applications are due by March 31st.

This will be the third run for the program, which is administered by the Delaware Farmland Preservation Program. Deputy Secretary of Agriculture Austin Short, who oversees the program, says "we have had tremendous interest in the program so far, this is a way to help reduce the financial impact on farmers starting out and attract more young people to invest in agriculture."

To be eligible, farmers must be between 18 and 40-years-old, have at least three years of farming experience, and have a net worth of no more than $300,000. The loan can be used to buy farmland in Delaware that has at least 15 tillable acres zones for agricultural use, and it must actively be used.

For more information on the loans, and eligibility, visit the Department of Agriculture's website, or call or email Deputy Secretary Austin Short at 302-698-4500 or austin.short@state.de.us.