By Scout Nelson
The Minnesota Department of Agriculture’s Rural Finance Authority will start accepting applications on August 1 for the next round of funding for the Down Payment Assistance Grant program. This program provides up to $15,000 for qualified farmers to purchase their first farm. Eligible applicants must earn less than $250,000 per year in gross agricultural sales, and each award must be matched with at least $8,000 from other sources.
Additionally, applicants cannot be related by blood or marriage to the current owner of the farmland they intend to acquire.While all eligible farmers are encouraged to apply, priority will be given to applicants with no more than $100,000 in annual gross farm product sales or those who produce industrial hemp, cannabis, or specialty crops.
This prioritization aims to support smaller-scale farmers and those involved in niche agricultural markets.
The program is an excellent opportunity for new farmers to get started and for small-scale producers to expand their operations.
The Minnesota Department of Agriculture is committed to supporting the growth and sustainability of the state’s agricultural sector through initiatives like the Down Payment Assistance Grant program.
Interested applicants should prepare their documentation and ensure they meet all eligibility requirements before submitting their applications. The deadline for this round of funding will be announced soon, so prospective applicants are encouraged to apply as early as possible.
Photo Credit: minnesota-department-of-agriculture
Categories: Minnesota, Government & Policy, Rural Lifestyle, Farm Safety