Vilsack Approves Extra Funding for Farm Loans

June 21, 2016 12:04 PM
Vilsack Approves Extra Funding for Farm Loans

Given the current farm economy, farmers across the country are looking to boost their operating loans and additional lines of credit. Many banks are seeking guaranteed lending partners to mitigate their own risk, a role the Farm Service Agency has filled for many years. With lending on the rise, the $2 billion in FSA’s budget is dwindling and expected to run out before the fiscal year ends Sept. 30. According to Agri-Pulse, Agriculture Secretary Tom Vilsack plans to use a $500 million discretionary fund to help FSA survive the projected deficit. According to Politico, eight farm groups lobbied Congress for more farmer loan funding in June alone.

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