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ARRA Delivers Success for FSA
Farmers and ranchers were among the first beneficiaries of Recovery Act funds. FSA distributed $173 million in direct operating loans. Here are some stories about the people who have been helped by ARRA.
ARRA Youth Loan Encourages Young Entrepreneur
Fourth Generation Cattleman Takes Advantage of Recovery Act
ARRA Funds Enable Equipment, Chattel Purchases to Launch Family Business
16-Year-Old Used ARRA Funds to Expand Cattle Business of Backgrounding
Missourian Says FSA Loans Keep Business Plan on Track
Rookie Rancher Uses ARRA Funds to Start Business
FSA has responsibility for four ARRA targets:
- More than $700 million to supplement disaster recovery programs
First Wave of Recovery
President Obama signed the American Recovery and Reinvestment Act (Recovery Act) on Feb. 17, 2009, in an effort to jumpstart an ailing U.S. economy. The plan is to put America back to work in order to stimulate spending and investments. The Farm Service Agency (FSA) has an important role in helping the nation achieve the President's objectives, especially in rural America.
As USDA's first measure of success, FSA used authorized Recovery Act funds to generate 2,636 Farm Operating Direct Loans valued at more than $173 million in 47 States. Starting in March, funds were disbursed to approved loan applicants. Within days, they were buying farm equipment, seed, fertilizer, and contracting with local tradesmen for repairs to buildings and fences and hiring helping hands for spring planting. The rapid and decisive work of FSA's county employees delivered USDA's first wave of Recovery for the President, Congress and the American people.
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