Freeing up credit for farmers impacted by the closure of New Frontier
I have appealed to U.S. Agriculture Secretary Tom Vilsack on several occasions since the bank's closure in 2009, and successfully requested the transfer of funds to increase the pool of money available for Farm Service Agency direct operating loans by $110 million. Legislatively, I also urged my colleagues to provide adequate funding for the USDA's farm loan programs in the Fiscal Year 2009 Supplemental Appropriations Act (P.L. 111-32) and in the Fiscal Year 2010 Agriculture Appropriations Act (P.L. 111-80). These efforts allowed the USDA to service backlogged qualifying loan requests and prepare to meet the lending needs of Colorado agriculture in the new fiscal year.
If you have further questions about this or any other issue, please contact me with your concerns.
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