Operating Loan Program Looking for More Money

The USDA’s Farm Operating Loan program has run out of money two months short of the end of the fiscal year.

Farm Service Agency Administrator Val Dolcini said there has been an uptick in loan applicants.

“This year we’ve seen a decline in commodity prices and a general softening in the ag economy and so that’s also had folks come in to FSA offices to talk about what we can do with them.”

Dolcini noted that this should not prohibit producers from still coming to them as they are working to find money for the program.

“We’re working with Congress and other stakeholders here in town to find resources. It’s something though that takes a little bit of time to work the process here in D.C. and we’re certainly doing everything that we can to make sure that we get funds available as quickly as we can.”

Dolcini said they can still approve loans and that he’s confident that by the end of the summer they will have funds available to distribute.