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Reminder on Farm
Storage Loans
Spring planting is a good time to look ahead to harvest time storage needs for grains and other storable crops, according to H. S. Barksdale, Chairman of the Rappahannock County Agricultural Stabilization and Conservation (ASC) Committee. He reminded farmers that the loan program for farm storage and drying equipment was recently liberalized, with the loan interest rate being lowered to 6 percent and an increase in the maximum loan amount being included as part of the changes. Storage facility loans may be made on the basis of two years’ production of a farmer’s crops which are eligible for pricesupport loans. The maximum loan or outstanding aggregate balance is now $35,000. Also the previous loan limit of $5,000 on drying equipment has been removed. Mr. Bardsdale said eligible producers may obtain loans to buy needed drying equipment as well as to
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