05 3 月 BLenders say it really is an overdue fix, despite the fact that numerous want to see also higher restrictions in the future.
Farm Bill Raises FSA Loan Guarantee Limit
MOUNT JULIET, Tenn. (DTN) -- When President Donald Trump signs the farm bill into legislation on Thursday, among the instant modifications is a rise to Farm provider Agency loan guarantees and direct loans.
"The biggest thing is these offer more freedom," said Ed Elfmann, senior vice president for ag and rural baking policy during the United states Bankers Association. "The greater amount of freedom you'll have, the higher, particularly as they operations develop bigger in dimensions. We must understand that ag just isn't -- farms aren't -- small, small, family members operations like they was previously. They are complex. They are numerous entities. They may be growing in scope and size."
The Agricultural Improvement Act of 2018 raises FSA loan guarantees to $1.75 million through the present $1.399 million. Moreover it doubles the mortgage restriction for direct farm ownership, or estate that is real loans to $600,000 and advances the limit on direct farm running loans by $100,000 to $400,000.