The Farm Credit Association board reports total loan volume increased more than nine percent in 2022. Loans for young farmers, 35 years and younger, rose six percent. Beginning farmer loan volume is up nearly ten percent and up over five percent for small farmers. The number of outstanding loans systemwide declined modestly, while outstanding loans for young and beginning farmers increased slightly. Lending declined throughout the system due to rising interest rates, changing economic conditions and the end of the Paycheck Protection Program.
