By Charlotte Holeman, Farm Loan Manager & Dana Rogge, Public Affairs Specialist
Brent Nold of Cosby, Mo., was a little apprehensive when he thought about getting a loan to expand his cattle herd.
“I was nervous about applying for a loan to purchase more cows because I had thought there would be a lot of paperwork,” said Nold.
What he didn’t know was that Farm Service Agency introduced a new loan designed for farmers just like him. FSA’s microloans were designed to help beginning, niche and small farmers secure loans under $35,000 to help provide start-up funding through a less burdensome, more simplified application process.
Nold was the perfect fit, graduating from an FSA Rural Youth Loan that he used for a small row crop operation as part of his Future Farmers of America project at Savannah High School. After graduating last May, he pursued his farming goals.
“The microloan application was quick and easy.” said Nold, who was the first producer in Missouri to receive the newly developed microloan that was approved 16 days after submitting the application. “I really appreciate the fact that I was able to obtain the loan so that I can expand my cattle operation.”