Upcoming webinars to offer insight to lenders
A series of upcoming presentations will offer insight into the Guaranteed Loan Program.
The United States Department of Agriculture Farm Service Agency will host four webinars focused on regulatory updates pertaining to guaranteed loan making and servicing, according to a farm service agency news release.
The free webinars take place at 1:30 p.m. Nov. 7, Dec. 17, Jan. 15 and Feb. 20. Participants will need computer speakers and a microphone to participate.
The Guaranteed Loan Program allows the farm service agency to partner with lenders to ensure agricultural producers have an affordable and reliable source of credit available. When making guaranteed loans, the agency guarantees the loan up to 95 percent of the loss of principal and interest.
This program allows banks to keep their long-term agricultural customers and form relationships with new producers who do not qualify for traditional commercial loans.
"The guaranteed loan program is a good way for banks to continue extending credit to viable agricultural producers while mitigating the risk that the financial institution assumes," Judith A. Canales, executive director of the farm service agency, said in the release.
Certified and preferred lenders can use all training sessions to meet annual training requirements.
To view the training schedule or to register, visit the USDA's website.
For more information about the training, call farm loan specialist John Cowan at 979-680-5229 or email firstname.lastname@example.org.