Finance and Credit
Overview
Farmers must often borrow large amounts of capital and incur sizeable debts in order to operate and maintain their farming operations. Therefore, the complex network of state and federal statutes, regulations, case law, and lending institutions that comprise the area of farm credit is of increasing significance to any involved in agricultural production. Read the full overview.
Note: Recently added resources are posted at the top of the applicable sections.
Major Statutes
Inflation Reduction Act (IRA)
American Rescue Plan Act (ARP)
Paycheck Protection Flexibility Act (PPP)
Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
Consolidated Appropriations Act (CCA)
Protection for Purchasers of Farm Products, 7 U.S.C. § 1631
Agricultural Credit, 7 U.S.C. §§ 1921—2009ee-3
Farm Credit System, 12 U.S.C. §§ 2001—2279cc
Consolidated Farm and Rural Development Act, 7 U.S.C. §§ 1921–2009dd-7
State Agricultural Loan Mediation Programs, 7 U.S.C. §§ 5101–5106
Compromise, Adjustment and Cancellation of Farm Loans, 12 U.S.C. §§ 1150–1150c
Agricultural Marketing Act, 12 U.S.C. §§ 1141–1141j
Equal Credit Opportunity Act (ECOA), 15 U.S.C. §§ 1691–1691f
Uniform Commercial Code
States’ Alternative Dispute Resolution (ADR) Statutes
Updated Compilation of States’ Statutory Agricultural Lien Charts
Regulations
Coronavirus Food Assistance Program, 7 C.F.R. pt. 9
National Appeals Division, 7 C.F.R. pt. 11
Federal Crop Insurance Corporation, 7 C.F.R. pt. 400-499
Guaranteed Farm Loans, 7 C.F.R. pt. 762
Direct Loan Making, 7 C.F.R. pt. 764
Farm Loan Programs Relending Programs, 7 C.F.R. pt. 769
Commodity Credit Corporation, 7 C.F.R. pt. 1400–1499
Servicing and Collections, 7 C.F.R. pt. 1951
Property Management, 7 C.F.R. pt. 1955
Debt Settlement, 7 C.F.R. pt. 1956
Personal Property, 7 C.F.R. pt. 1962
Clear Title—Protection for Purchasers of Farm Products, 9 C.F.R. pt. 205
Farm Credit Administration, 12 C.F.R. pts. 600-655
Farm Credit System Insurance Corporation, 12 C.F.R. pts. 1400-1403; 1408; 1410-1411
Federal Register Rules Open for Comment
Case Law
Case Law Index for Finance and Credit
Center Research Publications
Figuring the Federal Farm Products Rule (Brown, 2022)
Financing the Farm: A Law Bulleting Series on Legal Arrangements for Farm Financing (Kirk, Hall & Bachelor, 2021)
Blockchain Initiatives and Operations Focusing on Agriculture (Goforth, 2021)
Creating and Using Cryptoassets: Regulatory Implications (Goforth, 2021)
Blockchain and Bitcoin Basics: Applicability to Agriculture (Goforth, 2021)
An Overview of Bankruptcy Law for Farmers (Scott & Hall, 2020)
Updated Statutory Agricultural Lien Charts (Springsteen & Fiser, 2009; Brown, 2020)
U.C.C. Forms and Filing Information (Springsteen, 2020)
2005 Commercial Law Update (Meyer, 2006)
Who Get the Check: Determining When Federal Farm Program Payments Are Property of the Bankruptcy Estate (Schneider, 2006)
Are You a Debt Relief Agency? You Might Be Surprised and You Should Be Concerned (Schnieder, 2006)
Bankruptcy Reform and Family Farmers: Correcting the Disposable Income Problem (Schneider, 2006)
The Farmer’s Legal Guide to Producer Marketing Associations (O’Brien, Hamilton & Luedeman, 2006)
An Intro to Chapter 12 Bankruptcy: Restructuring the Family Farm (Schneider, 2005)
Bankruptcy Reform: Changes to Chapter 12-Adjustment of Debts for a Family Farmer (Schneider, 2005)
Rabobank Offer to Purchase FCS of America (O’Brien, 2004)
Agricultural Zoning, Bankruptcy, and the Rural Homestead (Laurence, 2003)
Chapter 12 Bankruptcy: On Again, Off Again (Schneider, 2003)
Husband and Wife Farmers in Ag Bankruptcy: The “Tools of the Trade” Exemption (Pittman, 2002)
Enforcement of Money Judgments Across Indian Reservation Boundaries (Laurence, 2002)
Statutory Ag Liens Under Revised Article 9 (Schneider, 2002)
Congressional Research Service Reports
Reports– published and made available by CRS beginning in 2017
Subjects- published by CRS and made available by NALC until 2018:
Finance and Credit
Federal Loan Programs
Agricultural Law Bibliography
Introduction | Keyword Search | Browse Categories
Legal publications on Finance & Credit:
Bankruptcy
Federal Loan Programs (Farmers Home Administration/Farm Service Agency)
Finance and Credit
Land Sales/Real Estate Finance, Mortgages/Foreclosures
Leases, Landlord-Tenant
Uniform Commercial Code
Reference Resources
Farm Credit System (FCS)
Farm Credit: Community Engagement
AgEd
Young and Beginning Farmers
Farmer Veterans
Local and Regional Food Systems
Opportunity in Ag
Rural Communities
Federal Farm Credit Banks Funding Corporation
Our Structure
Farm Credit in Your State
Farm Service Agency (FSA)
Farm Service Agency Farm Loans Program Homepage
Beginning Farmers and Ranchers Loans
Fact Sheet: Loans for Beginning Farmers and Ranchers
Emergency Farm Loans
Fact Sheet: Emergency Loan Program
Fact Sheet: Emergency Disaster and Declaration Process
Farm Loan Servicing
FSA Farm Loan Compass
Farm Operating Loans
Fact Sheet: Farm Loan Overview
Farm Ownership Loans
Funding
Guaranteed Farm Loans
Guaranteed Lender List By State
Guaranteed Loans Lender Toolkit
Microloans
Fact Sheet: Microloans
Minority and Women Farmers and Ranchers
Fact Sheet: Loans For Socially Disadvantaged Farmers and Ranchers
Native American Loans
Fact Sheet: Highly Fractionated Indian Land Loan Program
Program Data
Youth Loans
Fact Sheets: Youth Loans
FSA Handbook for Farm Loan Programs
General Program Administration
Guaranteed Loan Making and Servicing
Direct Loan Making
Regular Direct Loan Servicing
Direct Loan Servicing – Special and Inventory Property Management
Special Programs
Farm Loan Analysis Group
Sign Up for Notices
Economic Research Service (ERS)
Topics: Farm Sector Income & Finances
Topics: Risk Management
Topics: Federal Tax Issues
Topics: Socially Disadvantaged, Beginning, Limited Resources, and Female Farmers and Ranchers
Agricultural Income and Finance Situation and Outlook
Outlook for U.S. Agricultural Trade (2024)
Climate Change and Agricultural Risk Management into the 21st Century (Crane-Droesch et al., 2019)
Publication: The Debt Finance Landscape for U.S. Farming and Farm Businesses (Harris et al., 2009)
Credit in Rural America (1997)
Issues in Agricultural and Rural Finance (1998)
Internal Revenue Service (IRS)
Agriculture Tax Center
Agricultural Employer’s Tax Guide
Farmer’s Tax Guide
Foreign Agricultural Workers
Forms and Publications to Assist Farmers
Small Business Administration
USDA COVID-19 Farmer Resources
Farm Credit Administration
Federal Reserve AgLetter
Farmer Mac (Federal Agricultural Mortgage Corporation)
Farm Credit Administration Office of General Counsel Legal Opinion Summaries
Office of Civil Rights
Other Federal Resources
American Rescue Plan
USDA Fact Sheet
Debt Payments
FAQs on ARP Debt Relief for Socially Disadvantaged Borrowers
Farm Ownership Loans
Farmers.gov
Loan Options
Farm Loan Discovery Tool
Heirs’ Property Relending Program
USDA Pandemic Assistance for Producers Initiative
Inflation Reduction Act (2022)
Publications
What Is the Farm Bill? (Monke & Johnson, CRS Report RS22131, 2024)
Farm Loan Interest Rate Trends by Major Lender Groups (Miller et al., 2024)
Do Different Types of Farms Pay Different Interest Rates? (Miller et al., 2024)
How Mergers in the Farm Credit System Have Affected Ag Banks (Scott, 2023)
Trends in Working Capital (Langemeier, 2022)
Lending for Livestock, Credit for Crops (Brown, 2022)
Agricultural Credit: Institutions and Issues (Monke, CRS Report R46768, 2022)
Role of US Farm Interest Expense in Farm Production Expenses (Zulauf, 2022)
What’s in the Inflation Reduction Act for Agriculture? (Farm Bureau, 2022)
What’s in the American Rescue Plan for Agriculture? (Newton, Farm Bureau 2021)
Navigating COVID Relief for Farmers (FLAG, 2021)
CCA: Highlights of Tax Issues Impacting Farm Businesses (Ward, 2021)
Survival Analysis of Farm Bankruptcy Filings (Dinterman & Katchova, 2020)
Congress Revises Paycheck Protection Program to Assist Borrowers (Tidgren, 2020)
SBA Issues Guidance and Forgiveness Applications to Conform with PPP Flexibility Act (Tidgren, 2020)
Farm Legal Series (U. MN Ext., 2020)
Review of Credit Conditions: Report from Agricultural Lenders (House Agricultural Committee, 2019)
New: Farm Debt and Chapter 12 Bankruptcy Eligibility (Monke, CRS Insight IN11073, 2019)
Section 1631 and the Farm Products Exception to the UCC Exception (Schumm, 2019)
Agricultural Credit: Institutions and Issues (Monke, CRS Report RS21977, 2018)
Farm Credit System (Monke, CRS Report RS21278, 2016)
Chapter 12 Bankruptcy Basics (US Courts)
Financing the Community Supported Farm (UVM Ext.)
Overview: Farm Bill Programs & Grants (NSAC)
A Guide to Borrower Litigation Against the FCS and the Rights of FCS Borrowers (Kelley & Hoekstra, 1990)
Agricultural Lending- Version 1.3 (Office of the Comptroller of the Currency, Updated 2020)
2017 Annual Report on the Farm Credit System (FCS, 2018)
Overview of Financial Systems for New and Beginning Farmers (Morgan et al., Virginia Tech 2016)
Leverage of U.S. Farmers: A Deeper Perspective (Ellinger et al., 2016)
Farm Debt Use by Farms with Crop Insurance (Ifft et al., 2013)
Debt, Income, and Farm Financial Stress (Briggeman, Federal Reserve Bank of Kansas City 2010)
Trends in Agricultural Finance (Kaiser & Ormiston, 2016)
Ag Bankruptcies (Massouh, 2016)
Update on the Sec. 1031 AND Sec. 1033 Like Kind Exchanges in Agriculture (Rattikin, 2017)
Farmer’s Guide to the Farm Service Agency Microloan Program (Kalyuzhny, FLAG, 2014)
Agricultural Handbook, ch. 3 (FDIC 2014)
A Quick Guide to Understanding “Farm Filings” (CSC 2014)
Farmer’s Guide to Disaster Assistance (FLAG, 2008)
Managing Debt to Prepare for Farm Transfer (Shoemaker, FLAG 2006)
Bankruptcy Reform: Changes to Chapter 12 – Family Farmer Reorganization (Schneider, FLAG, 2005)
Making the Most of Your Milk Check: What Dairy Farmers Need to know About Assignments (Kruger, FLAG, 2005)
Rights of Farmers in Failed Grain Elevators (McEowen & Harl, 2000)
Farm Collateral Under the UCC: “Those Some Mighty Tall Silos, Ain’t They Fella?” (Miller, 1975)
Additional Resources
AgDocket: Perspective on Agricultural Law and Taxation (IA State U.)
Financial Terms (IA State U.)
Agricultural Banking (American Bankers Association)
Agricultural Law and Taxation Blog
COVID-19 Guide (FLAG)
Issue Reports (Farm Foundation)
Market Intel (Farm Bureau)
National Council of State Agricultural Finance Programs
Risk Management Education Blog (U. MD)
Topic: Credit (FLAG)
Finance & Credit Posts (Ad & Food Law Blog)
Farmdoc – Finance (U. IL – Urbana)
American Bankers Association Agricultural and Rural Bankers Committee
How Does the New Tax Law Act Impact Equipment Trades? (Tidgren, 2018)
Ag Decision Maker—Financial (IA State U.)
5 C’s of Credit (Walls, 2017)
Ten Tips for Tough Times in Farming (Durst, MSU, 2017)
Ag Risk + Farm Management Library (U. MN.)
Underserved Community Resources
Minority and Women Farmers and Ranchers
Loans for Socially Disadvantaged Farmers and Ranchers
Native American Tribal Loans
Topics: Socially Disadvantaged, Beginning, Limited Resource, and Female Farmers and Ranchers
Filing a Program Discrimination Complaint as a USDA Customer
How to File a Program Discrimination Complaint
USDA Program Discrimination Complaint Form Instructions