You’ve been granted free access to this subscribers only article.
Ag department transfers funds to meet producers’ urgent needs
U.S. Agriculture Secretary Tom Vilsack announced July 28 that a high demand for guaranteed farm ownership and direct farm operating funds has prompted the U.S. Department of Agriculture (USDA) to transfer appropriated funds between programs as authorized by law, to meet the urgent credit needs of producers, including beginning and minority farmers and ranchers.
“Demand is strong for direct operating loans and guaranteed farm ownership loans, while demand for subsidized guaranteed operating loans has stabilized,” Vilsack said in a July 28 USDA press release. “With these funds, we can help thousands of producers establish and maintain their family farming operations and obtain long-term credit assistance through a commercial lender.”
The transfer will make an additional $100 million in loan funds available for the direct operating loan program, providing 1,600 small, beginning, and minority farmers with resources to establish and maintain their family farming operations. In addition, $400 million in loan funds will be made available for the guaranteed farm ownership loan program, giving an additional 1,000 family farmers access to commercial lending backed by USDA. Both programs had run out of funds, resulting in a backlog of approved but unfunded loan applications.
This measure will allow all of the backlogged loans to be funded and provide sufficient funds to meet the needs of new loan applicants for these programs while at the same time leaving sufficient funding for the subsidized guaranteed farm operating loans program to meet the expected demand for fiscal year 2011. Producers needing additional direct operating or longer term guaranteed farm ownership loans funds are encouraged to make application at their local Farm Service Agency office.
The local Consolidated Farm Services Agency is located at 3251 N. S.H. 123 Bypass in Seguin. For more information, call 830-379-0931.
Your Opinions and Comments
Be the first to comment on this story!
You must be logged in to post a comment.
Agriculture Today Archives
Customs intercepts pest new to the United States (May 25, 2016)
Does wounded tree have a chance? (May 25, 2016)
Livestock Market Reports (May 25, 2016)
Mother Nature whips Wilson County crops (May 25, 2016)
Scrapie confirmed in Texas (May 25, 2016)
TDA Market Recap (May 25, 2016)
Texas Hay Report (May 25, 2016)
Beef cattle seven-year decline ends (May 18, 2016)
Educational video for water well owners (May 18, 2016)
Free Beef Quality Assurance training set for May 25 (May 18, 2016)
Fretwell wins Region 8 high school all around rookie saddle (May 18, 2016)
Grant to restore, enhance the monarch butterfly habitat (May 18, 2016)
Grass-fed beef conference (May 18, 2016)
Gun safety and barbecue in New Braunfels (May 18, 2016)
La Vernia Poultry Judging wins state, advances to nationals (May 18, 2016)
Lawn, landscape, rainwater program May 21 in Floresville (May 18, 2016)
Lesser prairie chicken off the list (May 18, 2016)
Livestock Market Reports (May 18, 2016)
Luling Foundation Field Day (May 18, 2016)
Protecting your tomatoes (May 18, 2016)
TDA Market Recap (May 18, 2016)
Texas Hay Report (May 18, 2016)
As El Nińo fades, expect warmer, drier weather says Texas A&M expert (May 11, 2016)
Floresville team wins second at state (May 11, 2016)
Livestock Market Reports (May 11, 2016)
Llamas, load up! (May 11, 2016)
TDA Market Recap (May 11, 2016)
Texas Hay Report (May 11, 2016)
Transplanting mountain laurels (May 11, 2016)
2016 La Vernia Junior Livestock & Poultry Show (May 4, 2016)
Beef, forage symposium May 10 (May 4, 2016)
Cattle raisers’ crime watch (May 4, 2016)
Corn acreage increases in Texas (May 4, 2016)
Help controlling the weeds (May 4, 2016)
Krueger leads the way at La Vernia stock show (May 4, 2016)
Land Heritage nomination deadline nears (May 4, 2016)
Livestock Market Reports (May 4, 2016)
TDA Market Recap (May 4, 2016)
Texas Hay Report (May 4, 2016)
May 2016 Gardening Calendar (May 1, 2016)