U.S. Sens. Mark Udall and Michael Bennet are seeking additional emergency aid for ailing farms in Colorado, requesting that Congress replenish dwindling government loan coffers squeezed by the credit crunch.
Citing a 200 percent surge in demand for Farm Service Agency loans, the lawmakers are asking that $810 million be provided to refill the accounts through an emergency appropriations bill under review by a Senate-House conference committee.
In a letter to congressional leaders, the senators wrote: “It is very unlikely that FSA will be able to help all farmers who meet the requirements for these loan programs.”
The request comes at a time when many Colorado farmers have been left without credit after the April shutdown of New Frontier Bank, the state’s leading agricultural lender. And nationally, suicide hotlines are reporting a spike in calls from farmers in emotional distress since commodity prices dropped.
“Farmers and ranchers are hurting in these tough times, and we need to do whatever we can — and use whatever tools we have at our disposal — to help them weather the storm,” Bennet said.
The $810 million allotment supported by the senators is backed by the House. A similar Senate proposal is for $585 million.
Weeks ago, the U.S. Department of Agriculture approved a separate request by the Colorado delegation to boost loan funds.
Miles Moffeit: 303-954-1415 or mmoffeit@denverpost.com
