Beginning Farmer Loan Program

About this program

The Minnesota Department of Agriculture’s Rural Finance Authority offers the Beginning Farmer Loan Program to provide affordable, participatory financing for purchasing or refinancing a Minnesota farm, with possible funding for improvements. Loans are made through participating local lenders, with RFA participation of up to 45% of the lender’s loan, capped at $500,000, and flexible repayment terms. Applicants must be Minnesota residents or qualifying family farm entities, intend to become full-time farmers and serve as principal operators, demonstrate appropriate experience, financial need, and repayment ability, and have a 2026 net worth below $1,069,000. Borrowers must also meet farm-income requirements, participate in approved farm business management training when available, consult conservation officials, and obtain credit life insurance.