Landscapes Magazine is an award-winning publication of the Texas Farm Credit District lending associations. Texas District Increases Lending to Young, Beginning and Small Producers
Lending to young, beginning and small (YBS) producers is going strong in the Texas Farm Credit District, which includes 14 lending cooperatives in Alabama, Louisiana, Mississippi, New Mexico and Texas. From 2016 to 2017, the number and dollar amount of new YBS loans increased across the board.
The number of Texas District loans made in 2017 to young, beginning and small producers rose by 6.3 percent, 4 percent and 4.8 percent, respectively, from the previous year.
Under the definition set by the Farm Credit Administration (FCA):
- A young farmer is age 35 or younger.
- A beginning farmer has 10 years or less farming experience.
- A small farmer has gross annual farm sales of less than $250,000.
The FCA’s 2017 Annual Report on the Farm Credit System’s Young, Beginning and Small Farmer Mission Performance found that nationally the dollar amount of outstanding Farm Credit loans increased in every YBS category.
The report noted:
- Nearly half of all new Farm Credit loans were to small farmers.
- More than 1 in 5 new loans were to beginning farmers.
- More than 1 in 6 new loans were to young farmers.
Young Producers Bring Agriculture to Capitol Hill
Twenty-seven agricultural producers traveled to New York City and Washington, D.C., as part of the 2018 Farm Credit Young Leaders Program. The group visited a Wall Street brokerage firm, the Federal Farm Credit Banks Funding Corporation and USDA, and on Capitol Hill, they discussed policy issues with legislators and congressional staff. At left, delegates pose in front of the Capitol.
Academy of Honor Scholarships Awarded to Texas Tech University Students
Six Texas Tech University students recently were awarded the 2018 Farm Credit Bank of Texas (FCBT) Academy of Honor scholarship this fall. The students, who are all pursuing degrees in economics or agribusiness, shared in the $10,000 scholarship, which was presented in honor of Texas Tech alumnus Jon “Mike” Garnett of Spearman, Texas, who was inducted into the FCBT Academy of Honor on April 5.
The recipients, all from Texas, were Kloe Burris of Poteet, Omar Cortez of Brownsville, Jennifer Crowl of Morse, Kenna Faulkenberry of Stephenville, Matthew Looney of San Antonio and Myranda Villanueva of Schertz.
The bank’s Academy of Honor recognizes individuals who have made valuable and significant contributions to agricultural credit. A scholarship bearing the inductee’s name is awarded through a college or university of his or her choice to students specializing in agriculture, finance or related studies.
Garnett, who farms and runs stocker cattle in the Texas Panhandle, is a former FCBT director and former member of the Pampa–High Plains Federal Land Bank Association (now Plains Land Bank) Board of Directors.