Kohl Supports FSA Funding Supplement | Farm Report with Pam Jahnke

Posted: 05.14.2010

The U.S. Senate Appropriations Committee has approved the FY2010 Supplemental Appropriations bill which included Wisconsin Senator Herb Kohl’s proposal to add funding for the Farm Service Agency (FSA) loan programs.

Low prices in the farm sector and a generally tight credit market have increased demand for FSA loans and these programs are expected to run out of funds in couple of months. The FSA loan programs provide critical assistance to credit worthy borrowers which can be used for operating expenses, to refinance existing debt and for land purchase. The bill includes $31.5 million for farm operating and ownership loans, which supports an additional $1 billion in lending authority for the FSA.

“The farm economy is struggling to recover from low prices and the overall poor economy, and a tight credit market has made the problems worse. Demand for USDA farm credit is much higher now than it was this time last year and it is expected that funds will run out in the next couple of months. Without adequate credit, farmers are at risk of losing their farms at the worst possible time. This assistance will give farmers the help they need to continue operation and prosper in these tough times,” Kohl said.

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