HARRISBURG – The PA House Commerce Committee approved legislation that would expand access to low-interest financing for PA farmers. House Bill 2207 would help augment critical agricultural operations as farmers face rising costs for land, equipment, buildings, and other investments necessary to sustain and expand their operations. While the PA Industrial Development Authority’s Small Business First Fund provides financing opportunities, agricultural businesses are limited to loans of $400,000, far below the $2 million cap available to non-agricultural enterprises. By increasing the loan limit, the bill would provide farmers with greater flexibility to purchase land, upgrade equipment, construct new facilities and make other long-term investments that improve productivity and sustainability. The bill is now before the full PA House.
