ABA, together with several financial and agricultural trade groups, today wrote to Congress urging lawmakers to include additional funding for the Farm Service Agency’s direct operating loan and guaranteed operating loan programs in the 2017 agriculture appropriations spending bill. The groups pointed out that the FSA is currently facing a financial shortfall and will run out of funding in June, leaving many beginning farmers and those not fully served by commercial creditors without access to vital credit.
“Access to annual operating credit is a make-or-break issue for many farmers, especially those just starting out,” the groups wrote. “Access to credit can largely determine whether or not farmers can continue working their lands, and for beginning farmers, it can determine whether or not they decide to pursue a career in agriculture in the first place.”
