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Marketing assistance loan rates for the “loan commodities” and peanuts for crop years 2002 through 2007 are specified in the 2002 farm bill (P.L. 107- 171, Sec. 1202, 1307). Nonrecourse loans also are available from the Commodity Credit Corporation for refined beet and raw cane sugar.
The interest rate on direct loans is determined by the Farm Service Agency and does not exceed the federal cost of borrowing plus 1 percentage point. However, loans to limited resource borrowers can be made at significantly below market rates. The interest rate on guaranteed loans is negotiated between the borrower and the lender. [2]
The Farm Credit System (FCS) in the United States is a nationwide network of borrower-owned lending institutions and specialized service organizations. The Farm Credit System provides more than $373 billion (as of 2022) [1] in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility ...
The Commodity Credit Corporation (CCC) is a wholly owned United States government corporation that was created in 1933 to "stabilize, support, and protect farm income and prices" (federally chartered by the CCC Charter Act of 1948 (P.L. 80-806)). The CCC is authorized to buy, sell, lend, make payments, and engage in other activities for the ...
The Farm Service Agency (FSA) is the United States Department of Agriculture agency that was formed by merging the farm loan portfolio and staff of the Farmers Home Administration (FmHA) and the Agricultural Stabilization and Conservation Service (ASCS). The Farm Service Agency implements agricultural policy, administers credit and loan ...
Farm Credit Canada (FCC, French: Financement agricole Canada; known as Farm Credit Corporation until 2001) is a Canadian Crown corporation and agricultural term lender. This organization's purpose is to enhance rural Canada by providing specialized and personalized financial services to farming operations, including family farms .
An eligible borrower must be unable to obtain sufficient credit from a commercial lender, but must assure reasonable prospects of success in the farm operation. Loans are made for up to 40 years. The interest rate is determined by USDA, and cannot exceed the cost of funds to the Government plus 1 percentage point. However, direct loans to ...
Some examples of the other programs include farm loans, federal crop insurance, the Noninsured Assistance Program (NAP), the Conservation Reserve Program (CRP), and conservation cost sharing, and the "food stamps" program of SNAP, which is included in each farm spending bill because it acts as a subsidy, keeping crop prices higher by increasing ...
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