USDA Farm Loan Program Announces Changes

For the first time in 60 years, forms and rules are being modernized.

Published on: Nov 9, 2007

Acting Ag Secretary Chuck Conner announced Thursday that modernization of the USDA Farm Loan Program would make applying for loans simpler and easier for farmers and ranchers. Beginning Jan. 1, 2008, Farm Service Agency Administrator Teresa Lassiter says forms and rules for Farm Loan Programs will be streamlined.

"Simply by reducing the number of pages in the code of Federal regulations by more than 80%; ensuring all forms are online; and cutting the number of forms needed to apply for a loan in half," says Lassiter. She also says guidance for the loan program will be much more manageable with nearly forty handbooks condensed down to six.

In preparing for the change, USDA accepted more than 1,500 public comments from more than 600 individuals. FSA will follow current procedures until the end of the year to give FSA employees time to train for the changes to the program.

To find out more about the changes to the Farm Loan Programs, click HERE.