{"id":81264,"date":"2017-05-29T11:28:12","date_gmt":"2017-05-29T15:28:12","guid":{"rendered":"http:\/\/madisoncountycourier.com\/?p=81264"},"modified":"2017-05-28T22:43:43","modified_gmt":"2017-05-29T02:43:43","slug":"farm-loan-programs-maintaining-good-credit-history","status":"publish","type":"post","link":"https:\/\/madisoncountycourier.com\/?p=81264","title":{"rendered":"Farm loan programs:\u00a0Maintaining good credit history"},"content":{"rendered":"<p><a href=\"http:\/\/madisoncountycourier.com\/?attachment_id=62285\" rel=\"attachment wp-att-62285\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-62285 size-full\" src=\"http:\/\/madisoncountycourier.com\/wp-content\/uploads\/2015\/06\/USDA_Logo.jpg\" alt=\"\" width=\"283\" height=\"200\" srcset=\"https:\/\/madisoncountycourier.com\/wp-content\/uploads\/2015\/06\/USDA_Logo.jpg 283w, https:\/\/madisoncountycourier.com\/wp-content\/uploads\/2015\/06\/USDA_Logo-150x106.jpg 150w\" sizes=\"auto, (max-width: 283px) 100vw, 283px\" \/><\/a>Farm Service Agency Farm Loan programs require that applicants have a satisfactory credit history. A credit report is requested for all FSA direct farm loan applicants. These reports are reviewed to verify outstanding debts, if bills are paid timely and to determine the impact on cash flow.<\/p>\n<p>Information found on a customer\u2019s credit report is strictly confidential and is used only as an aid in conducting FSA business.\u00a0\u00a0Our farm loan staff will discuss options with you if you have an unfavorable credit report and will provide a copy of your report. If you dispute the accuracy of the information on the credit report, it is up to you to <!--more-->contact the issuing credit report company to resolve any errors or inaccuracies.<\/p>\n<p>There are multiple ways to remedy an unfavorable credit score.<\/p>\n<ul>\n<li>Make sure to pay bills on time. Setting up automatic payments or automated reminders can be an effective way to remember payment due dates.<\/li>\n<li>Pay down existing debt.<\/li>\n<li>Keep your credit card balances low.<\/li>\n<li>Avoid suddenly opening or closing existing credit accounts.\u00a0FSA\u2019s farm loan staff will guide you through the process, which may require you to reapply for a loan after improving or correcting your credit report.\u00a0For more information on FSA farm loan programs, visit <a href=\"http:\/\/links.govdelivery.com\/track?type=click&amp;enid=ZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTcwNTI1LjczODEwODQxJm1lc3NhZ2VpZD1NREItUFJELUJVTC0yMDE3MDUyNS43MzgxMDg0MSZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTE2ODcwMTc1JmVtYWlsaWQ9ZG9ubmEucHVyZHlAbnkudXNkYS5nb3YmdXNlcmlkPWRvbm5hLnB1cmR5QG55LnVzZGEuZ292JnRhcmdldGlkPSZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&amp;&amp;&amp;102&amp;&amp;&amp;http:\/\/www.fsa.usda.gov\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?hl=en&amp;q=http:\/\/links.govdelivery.com:80\/track?type%3Dclick%26enid%3DZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTcwNTI1LjczODEwODQxJm1lc3NhZ2VpZD1NREItUFJELUJVTC0yMDE3MDUyNS43MzgxMDg0MSZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTE2ODcwMTc1JmVtYWlsaWQ9ZG9ubmEucHVyZHlAbnkudXNkYS5nb3YmdXNlcmlkPWRvbm5hLnB1cmR5QG55LnVzZGEuZ292JnRhcmdldGlkPSZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm%26%26%26102%26%26%26http:\/\/www.fsa.usda.gov\/&amp;source=gmail&amp;ust=1496028898265000&amp;usg=AFQjCNHssNhuaN_X9qj3LAdfAu9fpFBYgw\">www.fsa.usda.gov<\/a>.<\/li>\n<\/ul>\n<p><strong>Supervised Credit<\/strong><\/p>\n<p>Farm Service Agency Farm Loan programs are considered supervised credit. Unlike loans from a commercial lender, FSA loans are intended to be temporary in nature. Therefore, it is our goal to help you graduate to commercial credit, and our farm loan staff is available to help borrowers through training and credit counseling.\u00a0The FSA team will help borrowers identify their goals to ensure financial success. Through this process, FSA staff will advise borrowers in developing strategies and a plan to meet your operation\u2019s goals and graduate to commercial credit. Ultimately, the borrower is responsible for the success of the farming operation, but FSA\u2019s staff will help in an advisory role to provide the tools necessary to help you achieve your operational goals and manage your finances.\u00a0For more information on FSA farm loan programs, visit<a href=\"http:\/\/links.govdelivery.com\/track?type=click&amp;enid=ZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTcwNTI1LjczODEwODQxJm1lc3NhZ2VpZD1NREItUFJELUJVTC0yMDE3MDUyNS43MzgxMDg0MSZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTE2ODcwMTc1JmVtYWlsaWQ9ZG9ubmEucHVyZHlAbnkudXNkYS5nb3YmdXNlcmlkPWRvbm5hLnB1cmR5QG55LnVzZGEuZ292JnRhcmdldGlkPSZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&amp;&amp;&amp;103&amp;&amp;&amp;http:\/\/www.fsa.usda.gov\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?hl=en&amp;q=http:\/\/links.govdelivery.com:80\/track?type%3Dclick%26enid%3DZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTcwNTI1LjczODEwODQxJm1lc3NhZ2VpZD1NREItUFJELUJVTC0yMDE3MDUyNS43MzgxMDg0MSZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTE2ODcwMTc1JmVtYWlsaWQ9ZG9ubmEucHVyZHlAbnkudXNkYS5nb3YmdXNlcmlkPWRvbm5hLnB1cmR5QG55LnVzZGEuZ292JnRhcmdldGlkPSZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm%26%26%26103%26%26%26http:\/\/www.fsa.usda.gov\/&amp;source=gmail&amp;ust=1496028898265000&amp;usg=AFQjCNG8RvVYEiWAW7Nn8WzCi3fN-CWXTQ\">www.fsa.usda.gov<\/a>.<\/p>\n<p><strong>Communication is Key in Lending<\/strong><\/p>\n<p>Farm Service Agency (FSA) is committed to providing our farm loan borrowers the tools necessary to be a success. A part of ensuring this success is providing guidance and counsel from the loan application process through the borrower\u2019s graduation to commercial lending institutions. While it is FSA\u2019s commitment to advise borrowers as they identify goals and evaluate progress, it is crucial for borrowers to communicate with their farm loan staff when changes occur. It is the borrower\u2019s responsibility to alert FSA to any of the following:<\/p>\n<ul>\n<li>Any proposed or significant changes in the farming operation;<\/li>\n<li>Any significant changes to family income or expenses;<\/li>\n<li>The development of problem situations;<\/li>\n<li>Any losses or proposed significant changes in security\u00a0In addition, if a farm loan borrower cannot make payments to suppliers, other creditors, or FSA on time, contact your farm loan staff immediately to discuss loan servicing options.<\/li>\n<\/ul>\n<p><strong>Preauthorized Debit Available for Farm Loan Borrowers<\/strong><\/p>\n<p>USDA Farm Service Agency has implemented pre-authorized debit for Farm Loan Program borrowers. PAD is a voluntary and alternative method for making weekly, bi-weekly, monthly, quarterly, semi-annual or annual payments on loans.<\/p>\n<p>PAD payments are preauthorized transactions that allow the National Financial and Accounting Operations Center to electronically collect loan payments from a customer\u2019s account at a financial institution.<\/p>\n<p>PAD may be useful for borrowers who use nonfarm income from regular wages or salary to make payments on loans or adjustment offers or for payments from seasonal produce stands. PAD can only be established for future payments.<\/p>\n<p>For more information on FSA farm loan programs, visit <a href=\"http:\/\/links.govdelivery.com\/track?type=click&amp;enid=ZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTcwNTI1LjczODEwODQxJm1lc3NhZ2VpZD1NREItUFJELUJVTC0yMDE3MDUyNS43MzgxMDg0MSZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTE2ODcwMTc1JmVtYWlsaWQ9ZG9ubmEucHVyZHlAbnkudXNkYS5nb3YmdXNlcmlkPWRvbm5hLnB1cmR5QG55LnVzZGEuZ292JnRhcmdldGlkPSZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm&amp;&amp;&amp;104&amp;&amp;&amp;http:\/\/www.fsa.usda.gov\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?hl=en&amp;q=http:\/\/links.govdelivery.com:80\/track?type%3Dclick%26enid%3DZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTcwNTI1LjczODEwODQxJm1lc3NhZ2VpZD1NREItUFJELUJVTC0yMDE3MDUyNS43MzgxMDg0MSZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTE2ODcwMTc1JmVtYWlsaWQ9ZG9ubmEucHVyZHlAbnkudXNkYS5nb3YmdXNlcmlkPWRvbm5hLnB1cmR5QG55LnVzZGEuZ292JnRhcmdldGlkPSZmbD0mZXh0cmE9TXVsdGl2YXJpYXRlSWQ9JiYm%26%26%26104%26%26%26http:\/\/www.fsa.usda.gov\/&amp;source=gmail&amp;ust=1496028898265000&amp;usg=AFQjCNF9jvMAfMSgjeZE044whVwlxds58A\">www.fsa.usda.gov<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Farm Service Agency Farm Loan programs require that applicants have a satisfactory credit history. A credit report is requested for all FSA direct farm loan applicants. These reports are reviewed to verify outstanding debts, if bills are paid timely and to determine the impact on cash flow. Information found on a customer\u2019s credit report is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":62285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23679,8],"tags":[],"class_list":["post-81264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agfarming","category-top-story"],"_links":{"self":[{"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=\/wp\/v2\/posts\/81264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=81264"}],"version-history":[{"count":0,"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=\/wp\/v2\/posts\/81264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=\/wp\/v2\/media\/62285"}],"wp:attachment":[{"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=81264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=81264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/madisoncountycourier.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=81264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}