Putnam photoFarm Economy Stable, Loans Available
Boise--The nations economic misfortunes has'nt greatly affected farm credit, in fact a rural economic boom reveals that farmers have not had trouble getting loans for crops, buying land or replacing equipment, so far.
"The farm economy in Idaho is stable," said Idaho Farm Bureau President Frank Priestley "Everything's looking good this year, we're cleaning up our balance sheets and should be in good shape for next year."
Strong markets for milk, potatoes, wheat, beets, corn has brought stability to local economies and that means banks are willing to lend to the Ag sector according to the Federal Reserve Bank in Kansas City.
But the financial crisis on Wall Street has led to more thorough credit checks with lenders asking more questions from farmers and that's meant more loan collateral, despite that the Federal Reserve Bank has'nt seen any drastic changes. Farmer demands for loans across the nations Federal Reserve Districts is on the rise with farmers understandably borrowing more to cover rising input costs.
Boise--The nations economic misfortunes has'nt greatly affected farm credit, in fact a rural economic boom reveals that farmers have not had trouble getting loans for crops, buying land or replacing equipment, so far.
"The farm economy in Idaho is stable," said Idaho Farm Bureau President Frank Priestley "Everything's looking good this year, we're cleaning up our balance sheets and should be in good shape for next year."
Strong markets for milk, potatoes, wheat, beets, corn has brought stability to local economies and that means banks are willing to lend to the Ag sector according to the Federal Reserve Bank in Kansas City.
But the financial crisis on Wall Street has led to more thorough credit checks with lenders asking more questions from farmers and that's meant more loan collateral, despite that the Federal Reserve Bank has'nt seen any drastic changes. Farmer demands for loans across the nations Federal Reserve Districts is on the rise with farmers understandably borrowing more to cover rising input costs.
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