This week Farm Credit is joining the rest of America in celebrating the 17th annual National Farmers Market Week, The growing trend of bringing farm-fresh foods directly to nearby consumers recognizes the unique opportunity for consumers to meet the farmers and ranchers responsible for raising it.
The Farm Credit Council recently joined 14 other farm and lending organizations on a letter calling upon Congress to provide adequate funding for USDA Farm Service Agency (FSA) loan programs in the FY 2017 continuing resolution. USDA recently provided $185 million of additional funding, reprogrammed from other resources, for FSA farm loan programs to address the FY 2016 funding shortfall and backlog of pending applications. However, this funding is still estimated to be approximately $215 million short of pending requests, and no new applicants can be considered in FY 2017 until existing applications are considered. The letter urges Congress to address the funding shortfalls for FY 2016 and 2017 so that producers who cannot be fully serviced by commercial credit under current price conditions, including beginning, historically underserved, and veteran farmers and ranchers, can continue to get the financing they need to operate.