Farmers Home Administration's Business and Industrial Loan Program Can Be Improved

The Business and Industrial Loan Program of the Farmers Home Administration (FmHA) was established to help to save and create jobs in rural areas. Congress appropriated and the agency obligated about $550 million in loans during fiscal years (FY) 1974 and 1975, of which $117 million was designated for programs in Alabama, Arkansas, Georgia, Louisiana, Mississippi, and Tennessee.