USDA Approves $185 Million for Farm Loans

September 8, 2016 05:07 AM
 
 

Current commodity prices and the tough farm economy are causing farmers to seek additional funds to operate their businesses. Last week USDA approved an additional $185 million be granted to the Farm Service Agency to fund operating loans. Operating loans through FSA are in high demand because of the current farm economy. The new funds come ahead of the turn of the agency’s fiscal year October 1.

More than 1,900 farmers who already had approval of their loans will receive the new money. While that will help clear out the back log, it’s only 30% of the farmers waiting in the wings.

 

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Comments

 
Spell Check

Mush
Sharon , IA
9/8/2016 08:11 AM
 

  Craig is right, Us Farmers must learn to be sustainable again. Quit spending extra money per acre to hopefully break even but put more grain on the market. We are our own worst enemy because we've been taught to get as much bushels per acre as we can each year, which in turn does nothing but hurt us.

 
 
Frank Keeney
Tipton , MI
9/8/2016 09:32 AM
 

  The situation looks similar to the eightys,that's truly unsettling !O

 
 
Craig
Kearney, NE
9/8/2016 06:38 AM
 

  Making money available to loan out for producing more crops, the price of which is well below break even on the original loans, strikes me as ignorant. If you can't pay back your original production loans at current prices, how in God's name do you expect to pay back those, plus the new ones at these prices?????

 
 

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