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USDA farm loans top $6 billion

The USDA’s Farm Service Agency issued it’s second-highest ever amount of farm loans in 2017.  The agency issued a statement over the weekend saying their loan programs pumped six billion dollars into a diverse group of American farm operations.

Three-point-five billion of that was allocated for farm ownership loans.  Another 2-point-5 billion went to operating loans.

Acting Deputy Undersecretary Dr. Robert Johansson says FSA credit impacted 120-thousand family farmers either directly or through guaranteed loans through commercial lenders.

The same statement says 2017 saw about eight billion in ARC and PLC payments for producers who suffered market downturns in 2016, and 1-point-6 billion in Conservation Reserve Program payments.