Loan
Interest Rate Reduction Program (IRR / Farmer IRR, including Young Farmer IRR)
Texas Department of Agriculture - Texas Agricultural Finance Authority (TAFA)
What you can get
Linked-deposit interest rate buy-down: the State Comptroller places a below-market time deposit at the lender, which charges below-market interest on the linked loan • Program page: total linked-deposit loans to any one borrower cannot exceed $500,000 (IRR, Ch. 44) or $1,000,000 (Farmer IRR, Ch. 58). Maximum borrower rate per program page: deposit rate plus 4% (IRR) or deposit rate plus 1% (Farmer IRR). Proceeds may fund agriculture-related operating expenses, land or fixed-asset purchase and improvements, equipment, or any enterprise based on agriculture; existing debt only when the lender requires it to finance expansion. TDA's IRR Overview describes a Young Farmer version (YFIRR) for businesses owned at least in part by someone under 46 at loan closing. Pricing enhancement only, not a loan guarantee; no program fees currently. Can be paired with TAFA's Agricultural Loan Guarantee program.
- Readiness
- Prep docs first
- Who can apply
- producer, Texas farmers, ranchers and agricultural businesses, applying jointly with an eligible lender (state funds depository or Texas headquartered Farm Credit institution)
- Coverage
- TX
- Deadline & timing
- Deadline: Applications are accepted year-round and subject to available funding. Joint lender-borrower application submitted to TDA.
- Eligibility
- Eligible applicants: producer, Texas farmers, ranchers and agricultural businesses, applying jointly with an eligible lender (state-funds depository or Texas-headquartered Farm Credit institution).
Optional expert service · $249
Turn program research into an application package.
An eligibility screen for one farm, a shortlist of up to three relevant programs, and draft practice justifications and a document checklist for one selected application. Delivered within 7 business days after intake.
Last verified Nov 5, 2026. Always confirm current terms and deadlines on the official site before applying.
Plan your next step
Run a quick soil assessment or ask an agronomist how this program fits your fields.