Farmer Backlog for Federal Credit Addressed but Serious Gap Remains
National Sustainable Agriculture Coalition
On July 28, USDA’s Farm Service Agency (FSA) transferred unneeded Guaranteed Farm Operating Loan (GOL) funds to two credit programs with higher demand – Direct Farm Operating Loans (DOL) and Guaranteed Farm Ownership (GFO) loans. FSA has general authority to transfer a portion of appropriated funds from one loan program to another to bring spending more in line with farmer demand for credit.
Several days later, on August 1, FSA completed an additional transfer of funds from Guaranteed Farm Operating Loans to beginning farmer Direct Farm Ownership (DFO) Loans. This transfer, as well as one that will happen on September 1, is mandated by statute under a beginning farmer provision championed by NSAC.Read the full article and discuss it »