The Young Farmer Interest Rate Reducation Program is administered by the Texas Agricultural Finance Authority and offers low interest commercial lending for farmers 18-45. The program is intended to facilitate a below-market interest rate to eligible and creditworthy applicants through a commercial lender. The lender must be a financial institution that makes commercial loans, be certified as a state depository by the Comptroller of Public Accounts and agree to participate in the Young Farmer Interest Rate Reduction Program. The lender and the borrower determine repayment, maturity and collateral for the loan. A reduction of several percentage points on a borrower’s interest rate may be possible. The maximum loan amount is $500,000.