Wednesday, January 20, 2016

The Value Of Disabled Veteran Farm Loans

By Ryan Howard


A veteran farmer is defined as someone who has previously served his or her country within the armed forces. They are characterized as those who have never operated a ranch or farm and those who have operation experience but less than ten years. However, disabled veteran farm loans are only limited to those soldiers who have served in the army and got injured or incapacitated or disabled. Their disability needs to be directly related to their service in an active duty. They are eligible for this program.

It is a fact that not all soldiers that enlist die in service, many return home physically ok but may have psychological issues. Others are injured, amputated or lose a part of their body in injury. These heroes find it difficult to re-integrate back into society and pick up from where they left. They face a hard time trying to earn a descent living. This is the main reason behind the many government programs that allow these specific former soldiers apply for loans with reduced limits and that have flexible repayment conditions.

They have been put in a distinct class that aims to protect their special interests together. While they are basically similar to other low income farmers ranked as beginners, they are only different in terms of their service and disability. Any branch of the army will do even if it was the reserve. The government offers incentives to those owners that agree to sell land to veterans. This is evident in the CRP payments that are added to such sellers to encourage more of such action.

This program provides two years of additional payments to sellers. It also allows the veterans to begin using the land earlier than the expiration date of the CRP contract. This includes conservation attempts and improvements to the land. The agreement also allows farmers to get organic certification earlier than the date of expiration. It gives an opportunity for the enrollment in any program run by the government such as Conservation Stewardship Program.

The disabled veterans are often given preference in these programs. The main reason is that they are disadvantaged both physically and socially. This disadvantage has allowed them to qualify for various conservation programs by USDA. The body has set aside portions of land and money to help special groups of people in need of them.

They qualify to get loans that they can use to produce and process value added products. They are given directly to help boost these private ventures and businesses. Value addition is very lucrative and has been identified as an economically viable production that ought to be supported.

Microloans are given by Farm Service Agency. This body allows veterans to access loans at reduced interest rates and with simplified repayment conditions. It aims to make these facilities easy to take and repay to attract more people and encourage them.

There is also a lot of outreach and assistance to veterans in terms of education, training as well as technical assistance. They are given effective vocational training and advice on how to not only run their lands but also how to manage their loans effectively.




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