Young Farmers Loan Program
The Young Farmers Loan Program by the Delaware Department of Agriculture helps young farmers buy and permanently preserve farmland for ongoing agricultural use.
Funder: Delaware Department of Agriculture
Due Dates: Rolling (Applications accepted when funding is available; pre-qualification applications accepted anytime)
Funding Amounts: Up to $500,000 per loan; up to 70% of appraised value of farm’s development rights; 30-year, no-interest loan
Summary: Long-term, no-interest loans to help young and beginning farmers in Delaware purchase farmland.
Key Information: Farmland must be placed into a permanent preservation easement as a loan condition.
Description
The Young Farmers Loan Program, administered by the Delaware Department of Agriculture, is designed to help Delaware’s next generation of farmers overcome the financial barriers to land ownership. The program offers 30-year, no-interest loans covering up to 70% of the appraised value of a farm’s development rights (not to exceed $500,000) to eligible young and beginning farmers. In return, the purchased farmland must be placed under a permanent preservation easement, ensuring its continued use for agriculture. This initiative aims to strengthen and sustain Delaware’s agricultural community by making farmland more accessible to young farmers.
