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FCA: work with borrowers impacted by natural disasters
The Farm Credit Administration is urging Farm Credit System institutions to work with borrowers impacted by recent hurricanes, wildfires, and other natural disasters.
The administration says extending the terms of loan repayments, restructuring debt obligations, and easing loan documentation or credit-extension terms for new loans can help.
Farm Credit Administration CEO Glen Smith says farmers and ranchers have no control over natural disasters, but Farm Credit System Institutions have flexibility under FCA regulations to provide relief.
