Farm Credit’s Commitment to Young, Beginning and Small Farmers (YBS) Grew in 2019
Farm Credit institutions increased their support of young, beginning and small (YBS) farmers and ranchers across the country in 2019, according to a Farm Credit Administration (FCA) presentation released on August 13, 2020.
“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, multiple severe weather events and an uncertain trade outlook, as demonstrated in FCA’s report,” said Farm Credit Council President and CEO Todd Van Hoose. “Farm Credit takes its mission to support rural communities and agriculture very seriously. In addition, lending to young, beginning, and small farmers is at the core of that mission. That commitment manifests in a variety of ways across the country, including working alongside young, beginning and small farmers, thinking through individual business plans and developing the appropriate financing for each specific operation.”
In 2019, Farm Credit increased the number of loans to young farmers by 5.9 percent, beginning farmers by 8.1 percent and small farmers by 7.8 percent, as compared to 2018. Similarly, the dollar volume of those loans increased, too, by 7.3 percent to young farmers, 8 percent to beginning farmers and 15.9 percent for small farmers.
Farm Credit’s mission is to support rural communities and agriculture with reliable, consistent credit and financial services, today and tomorrow. Specifically, High Plains Farm Credit would welcome the opportunity to discuss a flexible financing package to meet the needs of a beginning farmer. We have special lending programs for Young, Beginning and Small producers and provide our years of expertise in financial management to help your operation succeed.