Disappointing RFA Vote
The Rural Finance Authority (RFA) loan program runs out of funds today, according the Minnesota Department of Agriculture. On Wednesday, House Republicans attempted to replenish those funds to eliminate uncertainty for farmers and help them prepare for the upcoming growing season. House Democrats voted unanimously to stop us from doing this.
The bottom line is the Democrat House majority failed our farmers this week. There is no point in waiting until later this session to replenish funding for an account we already know is running dry. All that’s going to happen by waiting is that farmers will continue to face uncertainty and added financial stress as we enter the new growing season.
This is a stress our farmers simply do not need. I spoke about the struggles many of our farmers have gone through on the House Floor. There is no reason for the legislature to wait and add further stress to their plate.
RFA loans are a revolving loan that is paid back at nearly a 100% rate. This is a financial tool our farmers rely on and are a necessary tool for many farmers.
The RFA partners with agricultural lenders to provide low-cost financing to farmers on terms and conditions not otherwise available from other credit sources. The RFA portion of the loan is carried at a reduced interest rate to improve the cash flow of eligible farmers. RFA offer loans within the beginning farmer loan and seller assisted program, agricultural improvement program, debt restructuring program, and livestock expansion programs.
Constituent Photos
Rep. Nash with Dr. Amy Gohdes-Luhman of Waconia Moravian Church. She came to the Capitol to talk about ways to help interfaith efforts to positively impact our community.
Rep. Nash with Austin VanDerHeyden, new lobbyst for MCCL and Crown College graduate. Rep. Nash worked with Austin in his role as Crown College Trustee.
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