Classifieds Business Directory Jobs Real Estate Autos Legal Notices ePubs Subscribe Archives
Today is September 21, 2014
home newssports feature opinion fyi society obits multimedia

Front Page » April 7, 2009 » Carbon County News » FSA earmarks recovery act funding for agency's direct far...
Published 1,993 days ago

FSA earmarks recovery act funding for agency's direct farm loan program in Utah


Print PageEmail PageShareGet Reprints

On April 1, the United States Department of Agriculture's Farm Service Agency announced that the Utah office has obligated all of the $173 million provided in the recovery act for the direct operating loan program in the state.

The program gave 2,636 producers direct loans from the agency. Almost 50 percent of the loan recipients were beginning farmers and 10 percent were socially disadvantaged producers.

There were $4.1 million in loans made to 67 borrowers at locations across Utah.

"These loans were used to purchase items such as farm equipment, feed, seed, fuel and other operating expenses and will stimulate rural economies by providing American farmers funds to operate," said FSA loan chief Bill York

Applications were considered on a first come, first served basis with special emphasis placed on beginning and socially disadvantaged applicants, explained the FSA. The maximum loan amount was $300,000.

In keeping with the goal of the recovery act, the loan funding was intended for proper investment into the agricultural sector to benefit family farmers and rural economies.

The act was designed to preserve or create millions of jobs throughout the country and the FSA loans help ensure that recipients remain financially viable and local agri-businesses benefit from direct purchases.

According to FSA, a hypothetical example of purchases made with a $100,000 direct operating loan includes:

•A used farm tractor, $45,000.

•Livestock, $18,000,

•Seed, $15,000.

•Fertilizer, $10,000.

•Fuel, $12,000.

The effect of the hypothetical loan reached the local implement dealership, sale barn, the grain seed distributor, the fertilizer distributor and a local fuel dealership, noted the Farm Service Agency.

For specific information on direct operating loans and FSA programs, farmers and producers in the Castle Valley region may contact York at (801) 524-4530 or call the local FSA office.

Carbon and Emery County residents with Internet access may obtain information from the federal agency's website at http://www.fsa.usda.gov.

Print PageEmail PageShareGet Reprints


Top of Page


 
Carbon County News  
April 7, 2009
Recent Local News
Quick Links
Subscribe via RSS
Related Articles  
Related Stories



Best viewed with Firefox
Get Firefox

© Sun Advocate, 2000-2013. All rights reserved. All material found on this website, unless otherwise specified, is copyright and may not be reproduced without the explicit written permission from the publisher of the Sun Advocate.
Legal Notices & Terms of Use    Privacy Policy    Advertising Info    FAQ    Contact Us
  RSS Feeds    News on Your Site    Staff Information    Submitting Content    About Us