The Farm Credit Administration made nearly 80,000 new loans to beginning farmers and ranchers last year totaling approximately $13 billion. Both the Center for Rural Affairs and the Minnesota Land Stewardship Project is pleased with that support. Rural Affairs Policy Program Associate Sarah Beaman says the number of beginning producers needing access to that type of credit is increasing.

She says one improvement that needs to be made to help beginning farmers and ranchers is to increase the current cap on loans.

Land Stewardship Project’s Paul Sobocinski says the loans made last year to beginning producers is positive, but more assistance needs to be given to the beginning farmer and rancher development program.

Loans to beginning farmers accounted for 22-percent of all loans made by the Farm Credit Administration.