Tuesday, March 10, 2009
The Farm Service Agency says it has used stimulus money for loans to 63 farmers in Kansas.
The agency said Tuesday that more than $4.38 million in direct operating loans have been distributed so far. It says more loans will be funded daily as funds are available.
Nationwide, the Farm Service Agency is using $145 million of the $173 million in the Recovery Act for its direct operating farm loan program.
The money is expected to fund loans to about 2,042 farmers. The maximum loan amount is $300,000.
About half the money is targeted for beginning farmers, and 10 percent is targeted to socially disadvantaged producers.