(NAFB.com) – Farm Credit System institutions made almost 133,000 loans to young, beginning, or small U.S. producers in 2023, delivering on their critical mission to support rural communities and agriculture. A new Farm Credit Administration Report underscores Farm Credit’s commitment to the next generation of agricultural producers through strategic lending and support initiatives. “Supporting young, beginning, and small farmers is central to Farm Credit’s mission and vital for the future of American agriculture,” says Todd Van Hoose, President and CEO of the Farm Credit Council. “As the farm economy became even more difficult in 2023, Farm Credit had nearly $113 billion in new loans to young, beginning, or small U.S. producers.” For example, in 2023, the Farm Credit institutions made over 47,000 loans totaling $11.7 billion to young producers who are 35 or younger. Almost 66,000 loans were made to producers with ten years or less of experience, totaling nearly $18.1 billion.