Velisha Jackson, farmer and member of the Federation of Southern Cooperatives, was recently interviewed by Public News Service. She spoke in support of the USDA’s recent changes to the Farm Service Agency’s loan programs. She also stressed the need for further action and legislation to bolster farmers’ access to fair credit.
Read the full article at Public News Service.
“I think the flexible repayment terms, that is going to be major,” Jackson emphasized. “You’re talking about a population of farmers and landowners who often lost acreage because they missed a payment.”
She noted another major benefit is having new guidance to help people navigate through the application process such as the addition of online tutorials and educational resources. As a part of the changes the Farm Service Agency is also offering debt refinancing options and limits how much collateral farmers need to provide, so they are not risking their homes and assets.
Jackson warned while the new rules are a step forward, they might not be permanent, which is why groups such as the National Family Farm Coalition and the Rural Advancement Foundation International are endorsing the Fair Credit for Farmers Act. The goal is to strengthen Farm Service Agency services further by improving access and accountability in farm loan services while bolstering farmer-borrower rights.
Jackson stressed passing the legislation is crucial for ensuring long-term support and equity in the agricultural sector.