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Profile of Participants in FmHA's Guaranteed Farm Loan Programs

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  • Koenig, Steven R.
  • Sullivan, Patrick J.

Abstract

Much of the Farmers Home Administration's (FmHA) credit assistance to farmers now comes through loans made by commercial or cooperative lenders, but guaranteed against default losses by FmHA. Lenders and borrowers that participated in the guaranteed farm loan programs during fiscal 1988, along with characteristics of the loans themselves, are extensively profiled for the first time. Results indicate that loan guarantee programs generally serve large family farms that are highly indebted and are much more likely to fail than the average farm. Most loan guarantees are issued to existing customers and not to new customers, but interest rates and terms charged on these loans are consistent with rates and terms experienced by other farm borrowers. Considerable regional variation in the characteristics of program participants exists. Results have implications for the new secondary market for farm loan guarantees and in the graduation of FmHA's direct loan borrowers to guaranteed loan programs.

Suggested Citation

  • Koenig, Steven R. & Sullivan, Patrick J., 1991. "Profile of Participants in FmHA's Guaranteed Farm Loan Programs," Staff Reports 278612, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:278612
    DOI: 10.22004/ag.econ.278612
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    File URL: https://ageconsearch.umn.edu/record/278612/files/ers-report-553.pdf
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    References listed on IDEAS

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    1. Herr, William McDaniel, 1990. "Toward an Analysis of Farmers Home Administration’s Guaranteed Farm Loan Programs," 1990 Regional Committee NC-161, September 24-25, 1990, Kansas City, Missouri 130924, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
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    Cited by:

    1. Settlage, Latisha A. & Dixon, Bruce L. & Ahrendsen, Bruce L. & Koenig, Steven R., 2001. "Estimating Principal Outstanding Models For Farm Service Agency Guaranteed Loans," 2001 Annual meeting, August 5-8, Chicago, IL 20738, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Settlage, Latisha A. & Dixon, Bruce L. & Ahrendsen, Bruce L., 2000. "Factors Determining Fsa Guaranteed Loan Loss Claim Activity In The U.S. For 1990-1997," Staff Papers 15782, University of Arkansas, Department of Agricultural Economics and Agribusiness.
    3. Settlage, Latisha A. & Dixon, Bruce L. & Ahrendsen, Bruce L. & Koenig, Steven R., 2006. "A Detailed Look at Lender Participation in the Farm Service Agency Guaranteed Loan Program," 2006 Agricultural and Rural Finance Markets in Transition, October 2-3, 2006, Washington, DC 133089, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.

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