Can this loan be used in conjunction with the Farm Service Agency (FSA) Beginning Farmer Program?
YES. These programs can be used together. Under the FSA Beginning Farmer Program, the borrower must provide a 10% down payment. FSA will provide 30% (unless the borrower requests less), and the remainder of the loan (60% or more) can be funded through a tax-exempt bond issued by CADA. Is there anything else a borrower should be aware of? YES. If you wish to obtain a loan from CADA, the loan must be approved by CADA no later than 60 days after any payment is made to acquire the project. If CADA’s approval is not received within such 60 days, the loan is considered refinancing and is not eligible for tax-exempt financing. Where can I get information about this program? To obtain an applcation form or receive more information about the Beginning Farmer Program, contact: Colorado Agricultural Development Authority 700 Kipling Street, Suite 4000 Lakewood, CO 80215-8000 Attention: Jim Rubingh Phone (303) 815-9543 Fax (303) 237-4851 E-mail: jimrcada@comcast.net Key points of the Beginning Far
