USDA Providing Additional Funding for Farm Loans

first_img Previous articleISDA Announces Indiana Grain Buyers and Warehouse Licensing Agency HeadNext articleCrop Ratings Little Changed, But Stress Continues Hoosier Ag Today Agriculture Secretary Tom Vilsack has notified Congress he will use $500 million in discretionary funding to cover a projected funding shortfall for farm loans. The Department of Agriculture’s Farm Service Agency, which administers the program, predicts a shortfall in funding for guaranteed farm ownership loans during the fiscal year that ends in September. Lower commodity prices and reduced farm income caused banks to become more cautious in their lending practices, creating greater demand for USDA guaranteed loans.The Farm Service Agency announced recently that USDA was about to exhaust the $2 billion Congress approved for the program. FSA is also looking at a projected shortfall in federally assisted farm operating loans.Source: NAFB News Service Facebook Twitter USDA Providing Additional Funding for Farm Loans SHARE Home Indiana Agriculture News USDA Providing Additional Funding for Farm Loans Facebook Twitter By Hoosier Ag Today – Jun 28, 2016 SHARElast_img

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