FSA Increasing Funding for Farm Loans

The USDA has announced it will increase funding for farm loans to help more than 1,900 approved applicants.  The reprogrammed funds by Farm Service Agency (FSA) will leverage $185 million for operating loans.  Given the current farm economy, FSA loans are in higher demand in 2016.  The money is believed to cover nearly 30 percent of the loan back log ahead of the start of the next fiscal year.  In the 2016 fiscal year, more than 6,400 customers were guaranteed loans for farm ownership and operating. A new year coupled with fresh funding starts Oct. 1.