Thursday, March 11, 2021

The Amount of Outstanding Farm Loans

 Trying to find out the total dollars of farm loans FSA/CCC has on the books, which might be subject to the provisions for debt forgiveness payments under ARPA.

There's this quote:

FSA farm loan programs provide an important safety net for producers, by providing a source of credit when they are temporarily unable to obtain credit from commercial sources. The majority of FSA’s direct and guaranteed farm ownership and operating loans are targeted to underserved populations such as beginning farmers and socially disadvantaged producers, who generally have had a more difficult time obtaining credit to maintain and expand their operations. In 2019, FSA provided 32,240 direct and guaranteed loans to farmers and ranchers, totaling more than $5.7 billion

And this chart:

Both from this 2021 Budget document. 

I'm not sure what to make of the data--it seems that the forgiveness might cover more than half the outstanding loans.

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