Chad Smith, NAFB News Service
A recent presentation shows Farm Credit institutions increased their support of the young, beginning, and small farmers and ranchers across the country in 2019. “Farm Credit grew and strengthened its commitment to young, beginning, and small farmers and ranchers in 2019 despite the challenges of continued low commodity prices, severe weather events, and an uncertain trade outlook,” says Farm Credit Council President and CEO Todd Van Hoose. “Farm Credit takes its mission to support rural communities and agriculture very seriously.” He says lending to the young, beginning, and small farmers is at the core of its mission. Last year, Farm Credit increased the number of loans to young farmers by almost six percent, beginning farmers by eight percent, and small farmers by seven percent, as compared to 2018. Similarly, the dollar amount of those loans increased as well, by 7 percent to young farmers, eight percent to beginning farmers, and 16 percent to small farmers. The FCA is an independent federal regulatory agency charged with the oversight of the Farm Credit System.