USDA Texas Farm Service Agency (FSA) Executive Director, Judith A. Canales announced that it is time for lenders to register for the upcoming FSA Guaranteed Loan Program training. FSA will host four webinars and three on-site classroom seminars for lenders.
"The webinars are geared toward experienced lenders who are familiar with FSA guaranteed loans," said Canales. "This year we added three on-site classroom style training seminars for new loan officers or those who are new to the Guaranteed Loan Program."
The Guaranteed Loan Program allows FSA to form a partnership with lenders to ensure that agricultural producers have an affordable and reliable source of credit available. When making guaranteed loans, FSA guarantees the loan up to 95 percent of the loss of principal and interest. This loan program allows banks to keep long-term agricultural customers as well as 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 their risks," said Canales.
Webinars and on-site classroom seminars will be offered at no cost to the participants. The seminars in College Station and Lubbock are full-day courses that provide a detailed overview of loan making requirements. The College Station seminar is October 2, 2013, and the Lubbock seminar is on October 23, 2013. The Edinburg seminar is a half-day seminar on October 8, 2013, and will focus on the benefits of the Guaranteed Loan Program. All on-site seminars will begin at 8:30 a.m. A representative from the Small Business Administration (SBA) will be on the agenda to discuss SBA guaranteed loan programs that may be of assistance to agricultural lenders.
The webinars will be held on November 7, 2013, December 17, 2013, January 15, 2014, and February 20, 2014. All webinars will begin at 1:30 p.m. Central time and will focus on regulatory updates. Participants will need computer speakers and a microphone to participate.
Any of the training sessions may be attended by agency Certified and Preferred Lenders to remain in compliance with the required annual training.
To view the guaranteed lender training schedule or to register please visit: http://www.fsa.usda.gov/Internet/FSA_File/tx_glswebinars_2013.pdf.
For more information regarding guaranteed lender training, please contact John Cowan, farm loan specialist, at (979) 680-5229 or [email protected].