For some, farming isn’t so much a job they choose as it is a lifestyle they were born into. Many grow into the role of operator with strong support from their parents and grandparents. Others, however, enter the industry without the rich history of a family business to bolster them, and the related knowledge, infrastructure and resources.

During the spring, hundreds of Farm Credit members and staff from California and around the country head to Washington, D.C., for the annual Farm Credit Fly-In. While at the Capitol, associates visit with their members of Congress and key federal regulators to discuss pending legislation and other important matters affecting agriculture.

Earlier today, Farm Credit West – a cooperative lending institution focusing exclusively on the agriculture industry – announced strong financial results for 2020 with continued growth in net income, earning assets and capital. These strong results positively positioned the Association to distribute 1.5% of eligible average outstanding loan balances in 2020 to customer-owners in a cash patronage dividend.

The COVID-19 pandemic posed remarkable challenges for California’s farmers and ranchers in 2020. Abrupt shifts in demand caused by restaurant and school closures and a jump in meals prepared at home forced producers to pivot to respond to these market shifts and many farmers experienced significant losses as a result.

Since our last communication on the Paycheck Protection Program, Farm Credit West has monitored the progress of the proposed legislation designed to provide additional relief to those impacted by COVID-19, specifically SBA’s Paycheck Protection Program debt forgiveness process.