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Show County Farmers Work Out Plans with FHA for Next Year This la the time of year when Iron County farm families plan the steps they need to take to Increase the efficiency of their farming operations during the coming season, reports Royden V. Carter, Farmers Home Administration Adminis-tration C'untv suorvisor. Approximately 75 farm families famil-ies in the county are operating their farm with loans obtained through the Farmers Home Administration. Ad-ministration. The agency advances operating operat-ing credit primarily to help eligible eli-gible farm families make im proved use of their land and labor la-bor resources on family-type farms and make needed chanTs In their farming systems. Most of the changes call for adontin better farming practices and Improving Im-proving the efficiency of their, farming operations. The loans help farmers pay for equipment, livestrv 'opl. nty( fe-tiUzcr, and other farm and home operat. lng needs Including refinancing chattel debts. Operating loans generally run from 1 to 5 years at 5 per cent Interest. The average aver-age operating loan In Iron County Coun-ty Is approximately $7,000. Before an operating loan for adjustment purposes Is closed, the annl leant and the county supervisor agree on proposed longtime improvements. At the beginning of each farming year while the loan Is being repaid, the family with the supervisor's help makes annual plans for the best use of the farm income and to determine additional credit needs. A year-end review of the past year's successes and mistakes mis-takes guides the family and the county supervisor when they get together to plan for the year coming u n. Mr. Carter said he can make operating loans only to families who have or can acquire land and labor resources needed to help them Improve their farming, and who are not presently able to turn to private or cooperative lenders for adequate financing of the type they require. All borrowers bor-rowers graduate to conventional credit as soon as they can. |