Beginning Farmers

Do you want to start up a farm, but have financial concerns? Luana Savings Banks wants to help you! Between our services and government programs, almost anyone can become their own boss and run their own business - in agriculture!

Government Programs

The first step to owning your own farm is stopping in and sitting down with one our Agriculture Professionals.

If you aren't able to qualify for traditional bank loans to start your farm, government agencies such as the U.S. Department of Agriculture (USDA) Farm Services Agency (FSA) and Iowa Agriculture Development Authority may be able to help. And if you turn to a government program for help, we'll still be here for you, guiding you in the right direction and even helping you fill out the applications!

• Required Down Payments are lower than traditional bank loan requirements
• Lower Loan Interest Rates
• Specific tax exemptions
• Applicants must be at least 18 years old
• In some cases, an age cap is in place
• To qualify, a net worth limit is in place
• Loan limits are put into place
• Cannot presently or previously have owned a significant amount of farmland
• Must be the operator of the farm
• Loans must be used for specific purposes, such as buying farmland, improvements, machinery, and livestock.
• Lifetime caps to program financial help
• Must make purchases within a specific time period