The Farm Service Agency (FSA) released a list of loans and grant programs given to Kentucky farmers, “agricultural producers”, during the year 2007. Reading the amounts, it becomes even clearer that agriculture income to the state comes from not just crops and livestock sold, but in the money farmers are able to put into the stream of commerce because of these federal programs.
GUARANTEED LOAN PROGRAM
- $177.7 million dollars
$78.2 Million– 1387 direct and guaranteed loans. Of that, 1,084 were direct loans for $28+ million, making Kentucky 1st in the nation for direct loans approved.
$39.9 Million– 190 loans to purchase farmland, construct, repair/improve buildings, refinance debt.
$38.3 Million – 1,196 operating loans- purchase livestock, equipment, feed, seed, farm chemicals and supplies and refinance debt.
$15.2 Million – 93 loans to beginning farmers who could not qualify for convention loans.
$ 6.1 Million to 213 “socially disadvantaged” groups – those who because of race, gender, ethic prejudice could not get conventional loans.
- $353 million dollars
$80.5 Million – direct payments to eligible producers who enroll their farms each fiscal year.
$31.8 Million – 452 market assistance loans – interim financing at harvest time
$ 1.8 Million – Farm Storage Facility Loans to build, upgrade farm storage and handling facilities.
$ 2.1 Million – Milk Income Loss Payments – payments to dairy farmers when domestic milk prices fall below a specified level.
$15.4 Million - Crop Disaster Assistance – payment for losses to the 2005 crop caused by storms, wind, excessive rainfall.
$ 1.0 Million – Livestock Compensation Program – feed losses for livestock or catfish producers with feed losses or additional expense because of natural disasters.
$ 29.5 Million – Conservation Reserve Program – rental payments to restore long term covers to eligible land.
$ 2.1 Million – Conservation Enhancement Program – federal, state, local partnership to address significant ag related concerns on the Green River.
$176 Million – Tobacco Transition Program – Tobacco marketing program ended in 2004 crop. Payments began in 2005 to replace tobacco support programs and will continue to 2014.
$181,771 Thousand - Market Gains and Loan Deficiency payments – for those who forego marketing assistance. This program is down from 2004 when it hit $30 million.
$233,142 Thousand – Emergency Conservation payments – funds to help farmers rehabilitate farmland damaged by natural disaster.