Farm Credit

Date: 7/07
Position Number: II-D
Expires: 3/08

Resolution/Position:

1. 1. Encourage Ag lenders to use Farmer Mac and other ways to provide lower interest to Ag borrowers.
2. Support legislation and/or administrative procedures to maintain the availability of agricultural credit at competitive interest rates in a timely manner.
3. Oppose consolidation of banking interests that will limit rural lending.
4. Support beginning farmer loan programs at the federal and state levels.
5. Modify the lending limits of the USDA-FSA Farm Storage Facility Loan Program up to $100,000 no mortgage requirement; $100,000-$500,000 special loan requirement, 20-year loan term.
6. Allow local condominum-type storage, allow loans on up to 3 years crop storage capacity, and restricting the CCC collateral requirement to only the actual storage facilities.