AgAmerica's Revolving Loan Fund is the initial program for the agency.  The funds are allocated to farm capital investments within the Southwest Georgia United Empowerment Zone, and was earmarked specifically for irrigation systems in its first round of applications in 2001.  AgAmerica's low interest RLF could be used to match 20%, up to $20,000 of the capital investment in new irrigation systems within the zone.  The applicant acquired the other 80% from a cooperating local bank, who reviewed the farmer's application and credit history for the loan approval.  The RLF was fully expensed in 2002, and is currently being replenished for revolving back into farm capital investments.  The Equipment Library program is a "branch" of the RLF, loaning equipment instead of cash.  To learn more about the library click here.

Goals of RLF for Irrigation:

• Promote installation of irrigation systems within the zone to stabilize crop production which suffered from several years of consecutive drought
• Help farmers defray the upfront costs of the capital investment by providing additional funds at a lower rate to decrease the amount of down payment necessary, and reduce installments for better cash flow
• Collaborate with local financial institutions to help farmers address production issues and financing difficulties given consecutive loss-years, low commodity prices, and skyrocketing production costs

Last modified: 11/06/06