(Atlantic, Iowa) – Farm Credit Administration (FCA) Board Member Glen Smith, of Atlantic, visited with KJAN Friday morning (Oct. 20), about the recently passed Young, Beginning and Small (YBF) Farmers and Ranchers program. Smith, who flew-in from his post at Washington, D-C last weekend, said the program is designed to assist young farmers in securing seed money to get into the business. Smith explained the FCA is the Federal financial regulator for the Farm Credit System.

The FCA has offices in every state in the country. There are 62 institutions and thousands of branch banks around the country, as well. Smith says Oct. 12th was National Farmer’s Day, which brought the average age of farmers nationally, is estimated to be 59.5-years. The next Ag Census in 2024 is expected to show that age is now closer to 60 or beyond. That’s become a real national concern for Ag Policy makers.

A Bipartisan effort led to funding for the YBF program, but it didn’t come quickly.

Glen R. Smith

Glen Smith says the final result was a strengthening of controls, and a review of the current programs.

The YBF program, he says, is designed to be customizable to the diverse agricultural industries across the country.

Lending for the program is made through local financial institutions, including branch offices in Harlan, Red Oak, Creston and Perry. The Federal Land Office in Atlantic was eliminated several years ago. The FCS system, he says is best poised to meet with young farmers and ranchers, help them deal with some of the challenges they face and in answering their questions.

The goal Smith says, is to make getting seed money for farm operations less intimidating, and foster better cooperation with the FSA and USDA. For more information contact your local Farm Credit institution.