(Lincoln Journal Star) -- JournalStar.com reports that there's "a faltering livestock economy in Nebraska" that is leading up "to what a Federal Reserve economist describes as the biggest national surge in requests for farm loans from the federal government in 20 years." Brian Briggeman, based in Omaha with the 10th District Federal Reserve Bank, "said small business owners are also reporting challenges in getting loans," according to the story. "Approved applications for direct operating loans are up 72% from last year, while approved applications for farm ownership loans were up 28%, according to a USDA official.
The story notes that "George Beattie, president of the Nebraska Bankers Association, said feedback from his members does not suggest tighter private sector credit to rural borrowers across the board. But he did acknowledge the possibility Nebraska banks are looking to lend a bigger share of their money, at least in the livestock sector, in partnership with the federal government through loan guarantees."
See the story at <http://journalstar.com/articles/2009/06/25/news/local/doc4a42a59bb00e0452408959.txt>
