Let Farmers Fly › Oregon › Beginning and Expanding Farmer Loan Program (Aggie Bond)
Beginning and Expanding Farmer Loan Program (Aggie Bond)
Business Oregon with the Oregon Department of Agriculture: Total $520,000; new depreciable property up to $250,000; used depreciable property up to $62,500. No open or closed statement; the application form is dated December 15, 2025.
Verified Oct 14, 2026 against oregon.gov · Report a change
What it pays
$520,000
Total $520,000; new depreciable property up to $250,000; used depreciable property up to $62,500.
You pay first
5% match
Lender terms; a $250 application fee and a processing fee of 1.5% of principal.
Buy before approval?
No
Loan closes before purchase. · not confirmed
Drones
Ask Business Oregon
Whether a drone is depreciable agricultural property used for farming on agricultural land is not addressed.
Who can apply
Oregon residents with net worth of $750,000 or less who materially participate and have never run a farm larger than 30% of the county median.
What it covers
Farm land and depreciable farm property; new depreciable property limited to $250,000, used to $62,500.
Drones: ask the agency before you count on it
Whether a drone is depreciable agricultural property used for farming on agricultural land is not addressed.
What that means for you: equipment is an allowed purpose and drones are not named. Nobody can promise approval. If you plan to ask, describe the exact use and tie it to a practice the agency already recognizes.
Question to send Business Oregon (copy and edit)
"I farm [acres, crop] in [county]. Would a [make, model] agricultural drone used for [spot spraying / variable-rate fertilizer / cover-crop seeding] be considered eligible under Beginning and Expanding Farmer Loan Program (Aggie Bond), and what would you need from me to decide?"
Money and timing
Total $520,000; new depreciable property up to $250,000; used depreciable property up to $62,500. Lender terms; a $250 application fee and a processing fee of 1.5% of principal.
| Item | What the record says |
|---|---|
| Opens | Not stated |
| Deadline | None stated. · not confirmed |
| When money arrives | At closing. · not confirmed |
| Repayment | Repaid with interest on the lender's terms. |
| Equipment origin rules | None. · not confirmed |
No open or closed statement; the application form is dated December 15, 2025.
Paperwork
Application form, lender commitment, net-worth statement. · not confirmed
Still open
- Which NE Oregon lenders currently originate Aggie Bond loans?
Where this comes from
Every quoted line below was copied from the official page the research harness captured, and checked again against that capture when this site was built. Lines marked "not confirmed" elsewhere on this page have no quote yet.
| Fact | Official wording | Source | Checked |
|---|---|---|---|
| Program name | Beginning and Expanding Farmer Loan Program | oregon.gov · capture 261 | Oct 14, 2026 |
| Agency | Business Oregon | oregon.gov · capture 261 | Oct 14, 2026 |
| Kind of help | Financing of new depreciable property, such as construction of farm buildings and new equipment, is limited to $250,000. | oregon.gov · capture 261 | Oct 14, 2026 |
| Who can apply | Be an Oregon resident; Have a net worth of no more than $750,000; Be a principal user of the farm and materially and substantially participate on the farm | oregon.gov · capture 261 | Oct 14, 2026 |
| Who can apply | Have never owned/operated a farm that was larger than 30% of the county's median farm size. | oregon.gov · capture 261 | Oct 14, 2026 |
| What it covers | Financing of new depreciable property, such as construction of farm buildings and new equipment, is limited to $250,000. | oregon.gov · capture 261 | Oct 14, 2026 |
| What it pays | Financing of new depreciable property, such as construction of farm buildings and new equipment, is limited to $250,000. | oregon.gov · capture 261 | Oct 14, 2026 |
| You pay first | $250 application fee | oregon.gov · capture 82 | Oct 14, 2026 |
| You pay first | a loan processing fee equal to 1 1/2% of the principal amount of the loan | oregon.gov · capture 82 | Oct 14, 2026 |
| You pay first | The lender assumes all credit risks, and the borrower is solely responsible for repaying the Aggie Bond. | oregon.gov · capture 261 | Oct 14, 2026 |
| Repayment | The lender assumes all credit risks, and the borrower is solely responsible for repaying the Aggie Bond. | oregon.gov · capture 261 | Oct 14, 2026 |
| Repayment | The lender can pass this savings on to the borrower in the form of a lower interest rate. | oregon.gov · capture 261 | Oct 14, 2026 |
| Drones | Financing of new depreciable property, such as construction of farm buildings and new equipment, is limited to $250,000. | oregon.gov · capture 261 | Oct 14, 2026 |
| Official page | Aggie Bond | oregon.gov · capture 261 | Oct 14, 2026 |
Record business-oregon-aggie-bond v2, approved; automatic checks run Oct 15, 2026.
Ask about this program
Answers come only from the verified program records on this site. Every answer shows the agency's own words and the date we checked them. When the records don't say, it tells you to ask Business Oregon.
Not live yet: the assistant is being built. Until then, use the program pages and the contact on each one.