Post

$150 million in seed money for rural America

Eight Farm Credit institutions, including Farm Credit Mid-America, which serves Kentucky, Indiana, Ohio and Tennessee and Farm Credit Services of America, which serves Iowa, Nebraska, South Dakota and Wyoming, are providing the initial $150 million investment in the Rural Business Investment Company. Phil Kimmel, Sr. Vice President, Farm Credit Mid-America describes the $150 million available in the RBIC announced by Ag Secretary Vilsack, as seed money.

Audio: Phil Kimmel, Farm Credit Mid-America (10:55 mp3)

Other Farm Credit institutions participating in the RBIC include; AgStar Financial Services (Mankato, Minn.), AgriBank (St. Paul, Minn.), Capital Farm Credit (Bryan, TX), CoBank (Denver, Colo.), Farm Credit Bank of Texas (Austin, TX) and United Farm Credit Services (Willmar, Minn.)