FCS of America: Lending to decrease in ’13
What will the ag lending future look like, at least in the short term? Doug Stark, President and CEO of Farm Credit Services of America, tells Brownfield they expect a drop in total lending activity in 2013.
“Primarily, it’s a result of all the tax issues that we’ve been facing here coming up at years end. Folks that have been thinking about selling property have been trying to get that in this year when the tax rate has been known.”
Stark says the same applies to farm equipment businesses because they KNOW what the depreciation rules are this year. Stark says there are a lot of unknowns from a tax standpoint and an operating standpoint. FCS of America covers Iowa, Nebraska, South Dakota and Wyoming.
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