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 Financing Your Wyoming Ranch

Investors have a variety of options when it comes to ranch financing. From USDA FSA loan programs to commercial lending institutions, it can be fairly easy to get the funds you need to start or grow your Wyoming ranch.

USDA FSA loans

The U.S. Department of Agriculture (USDA) through the Farm Service Agency (FSA) has put three main programs in place to help finance your Wyoming ranch. In Wyoming, all of these loan programs can be accessed though the Wyoming Business Council.

The programs are;

  1. The Guaranteed Loan program – these loans are made and serviced by commercial lenders such as the Farm Credit System, banks, and credit unions. Guaranteed loan types include; guaranteed ownership loans and guaranteed operating loans.
  2. The Direct Loan Program – Direct loans are made and serviced by FSA. The FSA is also responsible for providing credit counseling and helping applicants assess the adequacy of their facilities, machinery and equipment. Loans available through the Direct Loan program include; farm ownership down payment loans, farm ownership joint financing loans, emergency loans, direct operating loans and youth loans.
  3. The Land Contract Guarantee Program – Land contract guarantees are available to any ranch or farm owner who wishes to sell their property to a socially disadvantaged rancher or farmer.

More Federal-backed financing options

Additionally, there are several other Federal backed financing options that you can consider. These include;

  1. The Beginning Farmer and Rancher Development Program
  2. Rural Business Enterprise Grant programs
  3. Business and Industry Guaranteed Loan Programs
  4. The Outreach and Assistance to Socially Disadvantaged Farmers and Ranchers program

Ranchers can also apply for grants through the National Institute of Food and Agriculture (NIFA), the Sustainable Agriculture Research and Education Program (SARE) and the Aggie Bonds Programs.

Farm Credit Cooperatives

Farm Credit Cooperatives are another great option for new and beginning ranchers looking to acquire loans to finance their Wyoming ranch. As cooperatives owned and directed by farmers, these credit bodies are very sensitive to the needs of next generation producers because the farmers are already aware of the challenges of starting out.

Three other credit cooperatives that you can approach include; AgCountry Farm Credit Services, the Farm Credit Council, and Greenstone Farm Credit Services.

Commercial lenders

Finally, ranchers can also get loans from banks and other commercial lenders. The Bank of America and the US Bank in particular have shown serious interest in funding agricultural startups.