Jan 28 - “We applaud the House and Senate conferees for removing term limits on USDA guaranteed farm loans in the 2014 Farm Bill," said Jeff Plagge, American Bankers Association chairman and president and CEO of Northwest Financial Corp., Arnolds Park, Iowa, in a statement the ABA released. "ABA has fought for the repeal of these term limits since they were first introduced in the early 1990s. Term limits created uncertainty for many farmers and ranchers who have been outstanding and conscientious borrowers. Now, the 35,000 farmers and ranchers who depend on this program will continue to have access to credit that is provided by banks and guaranteed by USDA.
“The Farm Bill is crucial to the economic well-being of our nation’s farmers, ranchers and rural communities. We urge Congress to approve this legislation without further delay.”