News

FSA loans up 21 percent

The softening ag economy and falling commodity prices have resulted in more farmers seeking credit from the Farm Service Agency.

FSA administrator Val Dolcini told Feedstuffs that the number of FSA loans is 21% ahead of a year ago, being loaned at the rate of about $20-50 million a day.  Dolcini says the agency has loaned almost 75 percent of available loan funding appropriated by Congress for the year. He says his hope is to fill all of the credit demand without running out of money.  If funds run out, he says the plan is to approve loans and then obligate funds once they’re available.