The Nation - News from March 27, 1985
Farm lenders are dumping their troubled borrowers on the federal government’s doorstep at an alarming rate, prompting the transfer of $300 million to help meet the heightened credit demand, according to Frank Naylor, Agriculture Department undersecretary in charge of credit programs. Naylor said a survey of Farm Credit Administration offices last month showed that 40% of farmers coming to the agency for new operating loans were first-time borrowers--an unusually high level.
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