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N.D. (NewsDakota.com) – North Dakota Farmers Union praised USDA’s recent announcement that it will expand a federal microloan program to assist beginning farmers and ranchers, veterans, small producers and underserved communities in agriculture.

“This is welcome news,” said North Dakota Farmers Union President Mark Watne. “Producers, especially beginning farmers and ranchers, are usually at a disadvantage when it comes to financing and getting their operation established. They are dealing with high land, equipment and input costs, the same challenges other farmers face.”

Since its inception in 2013, USDA’s microloan program has provided more than 16,800 low-interest loans to producers, totaling $373 million. USDA will broaden its reach by expanding the program’s eligibility requirements, simplifying the application process, and expediting approval of real estate loans.