EDA: $1.3 Million Invested for Infrastructure Improvements to Support Agricultural Entrepreneurs in Cedar Rapids, IA
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to NewBo City Market in Cedar Rapids, Iowa, for infrastructure improvements to support agricultural businesses. This grant will support a renovation and expansion of the facility, driving workforce growth and supporting new small businesses. This…
ABA: Wisconsin Banker and Local Marketing President Receive Top Ag Banking Awards
The American Bankers Association today announced the recipients of its annual Bruning and Blanchfield Awards, the association’s premier awards presented for significant contributions to agricultural banking. ABA will honor Dave Coggins, retired senior vice president of ag banking at Nicolet National Bank based in Green Bay, Wis. with the Bruning Award and Carroll Merry, president…
ABA: Report Finds Farm Bank Lending Increased to $110 Billion in 2023
Banks reported holding over 1.1 million small farm loans worth $70 billion Amid elevated production costs, commodity price volatility and a return to pre-pandemic levels of direct government payments, agricultural loan demand increased in 2023 and agricultural lending by U.S. farm banks grew 6.7% to $110.0 billion, according the American Bankers Association’s annual Farm Bank…
Federal Bank Regulatory Agencies Release 2022 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2022. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate disclosure statements of small business and small farm…
ABA: New Report Shows Farm Bank Lending Increased in 2022
Banks reported holding over 1.1 million small farm loans worth $69 billion. Despite headwinds in 2022 due to supply chain disruptions, shocks to supply and demand, volatility in commodity prices, and geopolitical uncertainty, agricultural lending by U.S. farm banks increased 8.1% in 2022 to $103.1 billion, according to the American Bankers Association’s annual Farm Bank Performance…
FFIEC: Federal Bank Regulatory Agencies Release 2021 Small Business, Small Farm and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2021. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate disclosure statements of small business and small farm…
ABA: 2022 Ag Lender Survey Finds Interest Rate Volatility is Top Concern in 2023
ABA, Farmer Mac joint survey reveals ag lenders are most concerned about impacts of inflationary pressure on farmers and ranchers The top concern facing agricultural lenders going into 2023 is interest rate volatility, according to the 2022 Agricultural Lender Survey report produced jointly by the American Bankers Association and the Federal Agricultural Mortgage Corporation, more commonly known…
EDA: Over $47 Million in American Rescue Plan Funds Invested Last Week
The following grants were made under the American Rescue Plan Funds program: September 6, 2022 – U.S. Department of Commerce Invests $4.7 Million in American Rescue Plan Funds to Support Small Businesses on Fort Apache Indian Reservation September 6, 2022 – U.S. Department of Commerce Invests $3.5 Million in American Rescue Plan Funds for Water Utility Improvements…
ABA: Farm Bank Lending Increased to $99.6 Billion in 2021
Farm banks held $14.6 billion in PPP loans, $43.8 billion in small and micro loans Agricultural lending by U.S. farm banks increased 5.5% in 2021 to $99.6 billion, according to the American Bankers Association’s annual Farm Bank Performance Report. The report attributed the change to a 7.5% increase in outstanding loans secured by farmland and…
Federal Bank Regulatory Agencies Release 2020 Small Business, Small Farm and Community Development Lending Data
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2020. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The…