The Lincoln/Garrard County Farm Service Agency (FSA) Farm Loan programs require that applicants have a satisfactory credit history. A credit report is requested for all FSA direct farm loan applicants. These reports are reviewed to verify outstanding debts, if bills are paid timely and to determine the impact on cash flow.
Information found on a customer’s credit report is strictly confidential and is used only as an aid in conducting FSA business.
Our farm loan staff will discuss options with you if you have an unfavorable credit report and will provide a copy of your report. If you dispute the accuracy of the information on the credit report, it is up to you to contact the issuing credit report company to resolve any errors or inaccuracies.
There are multiple ways to remedy an unfavorable credit score.
• Make sure to pay bills on time. Setting up automatic payments or automated reminders can be an effective way to remember payment due dates.
• Pay down existing debt.
• Keep your credit card balances low.
• Avoid suddenly opening or closing existing credit accounts.
FSA’s farm loan staff will guide you through the process, which may require you to reapply for a loan after improving or correcting your credit report.
For more information on FSA farm loan programs, visit www.fsa.usda.gov.