Texas Agricultural Finance Authority
The Texas Agricultural Finance Authority (TAFA) was created in 1987 (through HB 49) as a public authority within the Texas Department of Agriculture. The program is designed to provide financial assistance for the expansion, development and diversification of production, processing, marketing and exporting of Texas agricultural products.
TAFA is guided by rules and regulations written in the Texas Constitution, Texas Agriculture Code, Chapters 44 and 58, and the Texas Administrative Code, Chapter 28. The Commissioner of Agriculture, along with the assistance of the Board of Directors shall administer and provide guidance through the Texas Agricultural Finance Authority.
| TAFA BOARD OF DIRECTORS
|| TAFA BOARD’s ROLE AND DUTIES
| TDA’s ROLE AND DUTIES
|» Commissioner of Agriculture
» The director of the Institute for International Agribusiness Studies at Prairie View A&M University
» One person who is an elected or appointed official of a municipality or county;
» Four persons who are knowledgeable about agricultural lending practices;
» One person who is a representative of agricultural businesses;
» One person who is a representative of agriculture related entities, including rural chambers of commerce, foundations, trade associations, institutions of higher education, or other entities involved in agricultural matters; and
» Two persons who represent young farmers and the interests of young farmers.
| » Establish rules for governing the:
Agricultural Loan Guarantee Program (ALG)
Interest Rate Reduction Program (IRR)
Young Farmer Interest Rate Reduction
Young Farmer Grant Program (YFG)
» Establish selection criteria for grant
applications, lenders and borrowers.
» Perform annual audits of TAFA financial
records and accounts.
|» Manage and administer the Texas Agriculture
» The TAFA Board signed a resolution granting
TDA specific authority to approve, deny and
sign specific grants and contracts.
» Facilitate the approval process of IRR’s and
» Provide outreach and technical assistance for
producers, agribusiness owners and lenders who wish to
participate in a TAFA program.
» Administer Young Farmer Grants, including processing
of grant reimbursements.
»Provide outreach to banks, lending operations,
agricultural producers and agri-business