Farm Credit Officials Encouraging Help for Struggling Borrowers

Dan Economy

farm credit
Farm Credit Administration and Farm Credit bank officials told House Agriculture Committee lawmakers the system is sound, making credit available on flexible terms, and only technical tweaks and a strong safety net are needed in the next farm bill. But FCA Chairman and CEO Dallas Tonsager says the bigger issue seems to be the deteriorating creditworthiness of producers…

Tonsager said the FCA is encouraging the system to safely do all it can to help struggling borrowers, especially young, beginning and small producers.

Farm Credit Services of America President and CEO Doug Stark says the system moved “proactively,” starting two years ago…

Stark told agriculture lawmakers the Farm Credit system plans for farming downturns, using a conservative capital building approach in good times, so it can better help producers in tough times.  Rather than tightening lending standards now, he says FCA banks are trying to “lean in to the wheel.”

From the National Association of Farm Broadcasters

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