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Farm Credit Services offering drought relief to borrowers

Cash flow could slow to trickle at harvest time. That’s the result of the severe drought, according to David Owens, president and CEO of Farm Credit Services of Illinois. “In our territory, most all of it is in the red zone for drought,” Owens told Brownfield Ag News. For those customers being squeezed by the drought, Owens says FCS can work out a deferral of principle payments on mortgage and IT loans. He says they’re also happy to talk to borrowers about fixed rate long term financing to lessen some of the risk. In addition, FCS is also offering zero percent interest on the first $100,000 of operating loans for September, October and November.

AUDIO: David Owens (5 min. MP3)