The Farm Credit Administration Board on May 11 heard a report on Farm Credit System service to young, beginning, and small (YBS) farmers and ranchers in 2005. The report showed that the dollar volume of loans to all three categories of YBS farmers and ranchers has increased every year since 2001. (News release available on FCA's website.)
FCA Chairman and CEO Nancy C. Pellett said, “It is clear from the data presented today that the Farm Credit System is making a strong effort to serve and address the needs of young, beginning, and small farmers and ranchers. However, given the dynamic economic and financial picture in agricultural production today, serving the needs of YBS farmers must continue to be a high priority. FCA will continue to focus on YBS lending programs to ensure the FCS continues to meet the needs of YBS farmers and ranchers who are so critical to the future of agriculture and rural America.”
