The Senate Agriculture Committee is considering the Farm Bill, working to advance legislation that includes several provisions designed to strengthen access to credit in rural America.
A long-term Farm Bill that includes risk management tools for farmers and ranchers, agricultural loan guarantees, rural development programs, nutrition assistance, and conservation investments will help support the financial needs of agricultural communities.
Key provisions in the bill would:
- Increase USDA Farm Service Agency (FSA) guaranteed farm loan limits to better reflect today’s agricultural economy.
- Expand eligibility for beginning farmer loan programs by modernizing the definition of owner-operator and supporting greater flexibility for agricultural business structures.
- Modernize Farmer Mac by allowing the purchase ofRural Energy for America Program (REAP) loans, expanding secondary market access to agricultural credit, and improving liquidity for rural banks through Farmer Mac programs.
These policies would help rural banks better serve farmers, ranchers, and the communities that depend on a strong agricultural economy.