The Farm Service Agency is making changes to its farm loan program effective September 25. “Profitable producers are better for everybody in the food value chain in America,” said Zach Ducheneaux, administrator, FSA. The four key objectives of these new rules are to provide financial freedom, expand opportunities, increase resilience, and provide equitable access for producers. Ducheneaux said USDA will not take the primary residence as collateral unless it is needed to get to a one-to-one security position. Ducheneaux said putting homestead protection at the front end of borrowing instead of later in the process will be beneficial for many. These enhancements were called the most significant changes to federal loan programs since 2007.
