is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

  • American Agriculturist
  • Beef Producer
  • Corn and Soybean Digest
  • Dakota Farmer
  • Delta Farm Press
  • Farm Futures
  • Farm Industry news
  • Indiana Prairie Farmer
  • Kansas Farmer
  • Michigan Farmer
  • Missouri Ruralist
  • Nebraska Farmer
  • Ohio Farmer
  • Prairie Farmer
  • Southeast Farm Press
  • Southwest Farm Press
  • The Farmer
  • Wallaces Farmer
  • Western Farm Press
  • Western Farmer Stockman
  • Wisconsin Agriculturist

FSA loans go online

Online borrowing from USDA's Farm Service Agency (FSA) will be available to growers next year. FSA announced that the agency is in the process of replacing its online software to manage its $16 billion in farm loans. Online software from ECI called Web Equity Manager will power the agency's new Farm Business Plan. The Farm Business Plan replaces the current FSA accounting program that has been in use since the 1940s.

The online Farm Business Plan allows borrowers to document cash flow, expenses, assets, debts, and other financial information online. The information is shared with FSA farm loan officials or guaranteed lending partners. The new system will allow the FSA to handle requests more quickly and will save growers time because they won't need to make as many trips to USDA service centers.

Many FSA loan officers started using the online system this month for loan requests. By October, all FSA offices will be online for loans. FSA plans to launch the software for producers in mid-2005. Growers without computers may still complete worksheets by hand, and FSA staffers will enter the information.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish