Farm Credit System

The Farm Credit System (FCS) in the United States is a nationwide network of borrower-owned lending institutions and specialized service organizations. The Farm Credit System provides more than $373 billion (as of 2022) in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility cooperatives. As of 2021, the Farm Credit System provides more than 45% of the total market share of US farm business debt.

Congress established the Farm Credit System in 1916 to provide a reliable source of credit for farmers and ranchers, by making loans to qualified borrowers at competitive rates and providing insurance and related services.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.