Findings

Congress finds that— (1) beginning farmers and ranchers often pursue business models featuring diverse and specialized production and marketing strategies; (2) diverse and specialized agricultural businesses typically require substantial early-stage investments which will benefit the operation for years to come; and (3) programs in effect as of 2025 often finance those multi-year investments as annual operating loans, resulting in beginning farmers and ranchers under-investing in critical start-up capacities, limiting the ability of beginning farmers and ranchers to accumulate working capital, and increasing the difficulties faced by beginning farmers and ranchers in meeting the terms of those loans.