The Hawaii Department of Agriculture offers direct loans to full-time farmers. New Farmer Loans are for applicants who intend to farm full-time. A full-time farmer is a person who devotes most of their time to farming or derives most of their income from farming operations. A down payment or equity contribution equal to 15% of the total project cost is required from the applicant. Loans of up to a 40 year term may be extended for farm ownership and improvement applicants. Ten year loan periods are available for financing operating expenses. Microloans of less less than $25,000 are also available for operating expenses.