WASHINGTON, D.C. – With an eye toward the next generation of agricultural producers, Farm Credit celebrates beginning farmers during the 2022 National Agriculture Week.
“Supporting young and beginning farmers is an important part of Farm Credit’s mission. In 2021, Farm Credit made more loans to young and beginning farmers for more money than ever before. Across the country, Farm Credit lenders made 97,127 loans to beginning farmers last year. That’s more than 30% of all new loans Farm Credit made in 2021. Those 97,000 loans amounted to more than $26 billion,” said Todd Van Hoose, president and CEO of Farm Credit Council. “Over the past four years, Farm Credit made some 320,000 loans to beginning farmers for more than $76 billion.”
“Despite a pandemic, volatile commodity markets, high land values and other challenges, Farm Credit saw strong demand to begin farming across the country. And Farm Credit has specialized programs to provide educational opportunities and loans that take into consideration the challenges of starting out in production agriculture. As cooperatives, owned and governed by our customers, Farm Credit actively works to finance opportunities in agriculture for beginning farmers.”
For more information or data on loans to beginning farmers, contact Mark Hayes, mark.hayes@fccouncil.com.
Farm Credit supports rural communities and agriculture with reliable, consistent credit and financial services, today and tomorrow. It has been fulfilling its mission of helping rural America grow and thrive for more than a century with the capital necessary to make businesses successful and by financing vital infrastructure and communication services. For more information visit www.farmcredit.com.