USDA readies Web-based loan system

USDA readies Web-based loan system

The Agriculture Department has completed implementing its Farm Business Plan accounting system, which modernizes delivery of loan services to farmers and ranchers. The system was on view at Agriculture’s IT Showcase earlier this week.

Agriculture’s Farm Service Agency can document a borrower’s cash flow, expenses, assets, debts and financial information to track the success of their business. Currently, only county offices can access the Farm Business Plan. The system reaches over 2,000 offices.

The new Web application replaces a patchwork of paper forms and a legacy accounting system. Farmers and ranchers will have access to the accounting system via the Internet in early 2005, allowing them to view and update their business records from home or office instead of making trips to the service centers.

FSA loans or provides guarantees totaling $4 billion annually to farmers, ranchers and other agricultural producers who are unable to obtain commercial credit to buy new farms, feed and fertilizer. ECI of Glenwood, Iowa, provides the Web Equity Manager, which operates the Farm Business Plan.

About the Author

Connect with the GCN staff on Twitter @GCNtech.

Featured

  • Workforce
    White House rainbow light shutterstock ID : 1130423963 By zhephotography

    White House rolls out DEIA strategy

    On Tuesday, the Biden administration issued agencies a roadmap to guide their efforts to develop strategic plans for diversity, equity, inclusion and accessibility (DEIA), as required under a as required under a June executive order.

  • Defense
    software (whiteMocca/Shutterstock.com)

    Why DOD is so bad at buying software

    The Defense Department wants to acquire emerging technology faster and more efficiently. But will its latest attempts to streamline its processes be enough?

Stay Connected