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H2b Bridging the Gap: Evaluating Equity and Resilience in FSA Loans for Socially Disadvantaged Farmers – A Comparative Study of Primary and Ad Hoc Loan Types
Short Description
This study investigates the equity and resilience impacts of Farm Service Agency (FSA) loan programs on socially disadvantaged farmers, focusing on disparities in loan terms such as obligated loan amounts and interest rates across diverse demographic groups. Using borrower data from 2004 to 2014, it evaluates lending patterns for primary loan types (Operating and Farm Ownership Loans) and ad hoc loan types (Disaster Assistance and Emergency Loans). By applying a Multivariate Multiple Linear Regression (MMLR) model, the research assesses the influence of financial performance indicators and demographic factors, including race, gender, and marital status, on loan conditions. The findings reveal significant differences in loan terms, with minority and female borrowers often experiencing lower loan amounts and higher interest rates compared to White and male borrowers. These disparities persist despite FSA’s mandate to ensure equitable access to credit for disadvantaged groups. The results indicate that while FSA programs have made strides in improving access, challenges remain in achieving full equity. Policy recommendations include enhancing credit scoring models to reduce bias and providing targeted support programs to improve financial resilience for minority farmers. This study contributes to understanding the effectiveness of FSA loans in promoting equity and resilience and suggests pathways for further policy reform.
Type of presentation
Accepted Oral Presentation