FCA board receives annual report on the Farm Credit System’s young, beginning and small farmer lending

At its monthly meeting, the Farm Credit Administration board received FCA’s 2017 Annual Report on the Farm Credit System’s Young, Beginning, and Small  Farmer Mission Performance.

Outstanding loans

From Dec. 31, 2016, to Dec. 31, 2017, the dollar volume of total System loans grew by 3.1 percent. Loan dollar volume outstanding to young farmers grew by 4.8 percent, to beginning farmers by 5.3 percent, and to small farmers by 2.0 percent. 

At the same time, the number of total System loans outstanding declined by 3.2 percent. The number of loans outstanding to young farmers declined by 1.9 percent but remained the same for beginning farmers, and the number of loans outstanding to small farmers declined by 2.3 percent. 

New loans

The System’s overall new loan dollar volume declined by 0.9 percent in 2017. New loan dollar volume to young farmers declined by 1.5 percent, to beginning farmers by 1.8 percent, and to small farmers by 4.2 percent.

For total System loans, the number of new loans made in 2017 dropped by 9.8 percent compared with 2016. The number of loans to young and small farmers dropped by 8.5 percent, and the number of new loans made to beginning farmers dropped by 6.8 percent. 

System institutions are required by law and FCA regulation to maintain programs to provide sound and constructive credit and related services to YBS farmers and ranchers. They must report annually to FCA on their YBS lending activity.

For more information about the System’s YBS farmer lending in 2017, see the related fact sheet.