What should be done if a qualified beginning farmer/rancher gets selected to purchase an inventory property but no loan funds are available?

The most appropriate course of action when a qualified beginning farmer or rancher is selected to purchase an inventory property but loan funds are unavailable is to lease the property to the applicant for no longer than 18 months. This option allows the beginning farmer/rancher to maintain the potential of acquiring the property while providing them with time to secure the necessary financing. Leasing the property helps prevent loss of opportunity for the applicant, enabling them to develop their business while exploring funding options.

In contrast, requiring the applicant to secure alternate financing or risk losing the property imposes an undue burden and may not be feasible for all applicants. Informing the applicant that they can never purchase the property fails to provide a solution for their aspirations and effectively dismisses their potential. Selling the property as surplus ignores the specific interest of the qualified applicant and does not support their journey as a beginning farmer or rancher. By offering a lease option, the process supports the goals of new farmers and fosters a more inclusive approach to land ownership in agriculture.