In 2015, the pace of new lending to YBS farmers kept pace or exceeded the pace in overall farm lending by Farm Credit System institutions. The number of loans made in 2015 to young, beginning, and small farmers increased from 2014 by 5.1 percent, 7.5 percent, and 6.7 percent, respectively. The System's overall number of new farm loans made grew by 3.7 percent.
The dollar volume of new loans made to young, beginning, and small categories rose in 2015 from 2014 by 8.0 percent, 12.2 percent, and 10.0 percent, respectively. The System's overall volume of new farm loans grew by 8.8 percent.
The number and dollar volume of loans outstanding increased in all three YBS categories in 2015 from 2014. The number of loans outstanding increased by 3.5 percent to young farmers, 4.0 percent to beginning farmers, and 2.4 percent to small farmers. The System's overall number of farm loans outstanding grew by 2.9 percent.
The dollar volume outstanding increased by 6.0 percent to young farmers, 6.4 percent to beginning farmers, and 2.3 percent to small farmers. All these percentages were less than the 7.4 percent growth in the System's overall volume of outstanding farm loans.
The following information summarizes the System's 2015 lending activity to YBS farmers and ranchers.
Young-In 2015, the System made 62,143 loans to young farmers-that is, to those who are 35 years old or younger. The volume of total new loans to young farmers amounted to $9.4 billion.
The loans made to young farmers in 2015 represented 17.2 percent of all farm loans made during the year and 11.3 percent of the dollar volume of loans made. At the end of 2015, the System had 188,696 loans outstanding to young farmers, totaling $27.1 billion.
Beginning-The System made 79,642 loans to beginning farmers-that is, to those who have been farming for 10 years or less. The volume of total new loans to beginning farmers amounted to $12.7 billion in 2015.
The loans made to beginning farmers in 2015 represented 22.0 percent of all farm loans made during the year and 15.2 percent of the dollar volume of loans made. At the end of 2015, the System had 274,942 loans outstanding to beginning farmers, totaling $41.5 billion.
Small-In 2015, FCS institutions made 150,022 loans, totaling $11.8 billion, to small farmers-that is, to those with gross annual sales of less than $250,000. The loans made in 2015 to farmers in this category represented 41.4 percent of all farm loans made during the year and 14.1 percent of the dollar volume of all farm loans made. At the end of 2015, the System had 502,398 loans outstanding to small farmers, totaling $46.7 billion.
Totals reported include loans, advancements, and commitments made to farmers, ranchers, and aquatic producers, and exclude rural home loans, loans to cooperatives, and activities of the Farm Credit Leasing Services Corporation. In 2015, a total of 362,125 new farm loans were made, totaling $83.781 billion. The total outstanding farm loan numbers at year-end was 1,042,171, amounting to $245.550 billion.
Source: Farm Credit Administration
