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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)[1] in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility cooperatives. As of 2020, the Farm Credit System provides more 44%, of the total market share of US farm business debt.[2]
Congress established the Farm Credit System in 1916 to provide a reliable source of credit for farmers and ranchers, [3] by making loans to qualified borrowers at competitive rates and providing insurance and related services.
- ^ "2022 FCA Annual Report". FCA. Farm Credit Administration. Retrieved 19 July 2023.
- ^ "2021 FCA Annual Report". FCA. Farm Credit Administration. Retrieved 19 July 2023.
- ^ Shaw, Christopher W. (2018). "'Tired of Being Exploited': The Grassroots Origin of the Federal Farm Loan Act of 1916". Agricultural History. 92 (4): 512–540 – via JSTOR.