Farm Bill Raises FSA Loan Guarantee Limit
MOUNT JULIET, Tenn. (DTN) — When President Donald Trump signs the farm bill into legislation on Thursday, one of several instant changes would be a rise to Farm provider Agency loan guarantees and direct loans.
“the largest thing is these offer more freedom,” stated Ed Elfmann, senior vice president for ag and rural baking policy during the United states Bankers Association. “The greater amount of freedom you’ll have, the greater, particularly since these operations develop bigger in proportions. We must understand that ag is certainly not — farms aren’t — small, small, family members operations like they was previously. They may be complex. They truly are multiple entities. They truly are growing in scope and size.”
The Agricultural Improvement Act of 2018 raises FSA loan guarantees to $1.75 million through the present $1.399 million. Additionally doubles the mortgage restriction for direct farm ownership, or property, loans to $600,000 and escalates the restriction on direct farm running loans by $100,000 to $400,000. Continue reading “BLenders say it is a fix that is overdue despite the fact that numerous want to see also greater limitations later on.”