Farm Bill Raises FSA Loan Guarantee Limit
January 9, 2019
The USDA's Farm Service Agency is closed because of the government shut down, but the new farm bill, The Agricultural Improvement Act of 2018, has increased the agencies abilities for loan guarantees $1.75 million an increase from $1.40 Million. It also increased the direct farm ownership loans to $600,000 which doubles and increased direct operating loans by $100,000 to $400,000.
I researched on line at the American Bankers Association/Agricultural Banking and found that bank lenders are glad. They believe it's an overdue fix. According to Ed Elfmann, Senior Vice President for Ag and...