Farm Business Used FSA Loan Opportunity to Startup

October 20, 2017

KiogreenKoiGreen Produce and Pond Supplies, located in Ogden, Iowa, is a unique business that utilizes the water from their ponds stock with Koi fish to water their produce. 

The Iowa State University Extension and Outreach Value Added Agriculture Program (VAAP) has teamed up with the USDA Farm Service Agency (FSA) to create outreach and education about financial assistance through FSA Programs. With the help of a FSA microloan, KoiGreen Produce and Pond Supplies was able to startup their business as well as purchase many necessary items for their pond. 

FSA has a number of loan options, microloans are focused on financing small, beginning farmers, niche and non-traditional farm operations. There are two types of microloans, Direct Farm Ownership and Direct Farm Operating. There is no minimum amount for either type of loan but there a maximum loan amount of $50,000.

“VAAP has acquired a grant that will help producers prepare for presentations, put together information regarding their challenges, and to illustrate how local FSA staff provide individualized technical assistance” said project Co-Principal Investigator, Marsha Laux who will become the FSA program expert to facilitate the transfer of information to the VAAP staff. “The staff of the VAAP have developed strong relationships with producers in targeted audiences and has staff serving in leadership roles with networks of agricultural producer groups.”
  
“We wouldn’t have ever had all of this without a loan” said the owners of KoiGreen Produce and Pond Supplies, “this turned into a passion we never knew we had.”  

For additional information visit the FSA Microloans and the Value Added Ag websites.

Click here to watch the video. 

Iowa State University Extension & Outreach