Newspapers / The News-Record (Marshall, N.C.) / Dec. 21, 1978, edition 1 / Page 5
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F.H.A. Tops Nation In Number Of Loans fl>' ? tioo ? its the entire nation in of loans, it waa by state director Jamee T.Johnson. During the fiscal year en ding Sept. SO, the federal agency made loam 37 percent abore the level for fiacal 1977, the director explained The total of some 16,500 loans, qwde to farmers, other rural Haidents, and communities in North Carolina was well abead of the second leading state in the nation. A breakdown in the agen cy's four major lending programs is as follows : FARM CREDIT . Farm credit Farm real estate and operating loans to farmers during this fiscal year added about 6,000 to the families being served by FmHA as compared to 1,000 last fiscal year. Some 11,500 loans were made to farmers during this 12-month period. This is double the number made in any previous period. The major reason for this hefty rise in number of loans was the drought in 1977 which resulted in a big loaa in farm income causing many farmers te be unable to continue with tbeir normal sources of credit. More than 7,500 emergency leans were made to farmers in the drought stricken areas acnes the state. A new economic emergency loan service for farmers has bean authorized under the Agricultural Credit Act of 1978 Economic emergency leans offer special help to farmers who are hard-prosed by recent shortage of credit from their regular lenders or to debts accumulated during the recent period of low farm pftcee. HOUSING Housing. North Carolina had another high volume rural housing loan program in fiscal 1|7S. Some 6,500 loans were ntade to rural low- and moderate-income families to boy, build and repair single family housing In addition, 60 loans were made to finance rental housing for occupancy kft families of low fed moderate incomes ? a percent increase over the previous year's record. All loans are made to ap plicants residing in rural areas, towns of up to 10,000 population and In non metropolitan areas of up to 10,000 population, who cannot gat housing mortgage credit from private and conventional sources. Loans to acquire and improve single family houses averaged $23,300 while loans f4T units in rental housing projects averages 130,960. gA new guaranteed loan program to assist above ntoderate-income families to acquire houses in rural areas will be available this fiscal yfrar. These loans will be made by local lenders and will be guaranteed by Farmers Home Administration COMMUNITY FACILITIES Community facilities. Loans to build or improve water and waste disposal systems ac counted for more than 55 percent of the total funding of projects under this program * f What Aa Investment It's really too bad a person ri't irwett in income taxes they're one thing you can be sure will continue to go for fiscal 1978. A total of 54 watar and waatc disposal loans was made to rural communities and towns ? serving some 49,000 residential users and 1,000 commercial users. Loans for other types of community facilities, such as medical and community centers and fire departments were made. These projects serve coun tryside and towns of up to 10,000 population. The 74 community facility !?? made during fiscal 1978 serves some 190,000 residential users and 13,000 commercial users. BUSINESS AND INDUSTRY Business and Industry. Saving Jobs or creating new jobs is the primary aim of the business and industry loan program. The number of FmHA guarantees of com ploying rural people roae by 25 percent thia fiscal year. Sixty two percent of the projects guaranteed were located in towns or places undo1 14,000 population and approximately 4,800 Jobs were created or saved. This year's program provided an estimated 3,000 new jobs in rural areas and an estimated 4,900 existing Jobs. Business and industry loan guarantees are made (or a variety of projects, such as manufacturing, retail trade and services. Loan services of the Far mers Home Administration, like all programs and services of the U.S. Department of Agriculture, are available to everyone without regard to race, color, sex or national origin. Information on Farmers Home Administration'! various loan programs may be obtained from the PmHA state office located at 310 New Bern Ave., Raleigh, or from one of the 76 local offices across the state. The location and phone number of the local office serving each county is listed in the telephone directory under U.S. Government. OPEN MONDAY THROUGH FRIDAY 9AM 5PM BILL HODGE -OWNER 649-3881 Shop the News-Record Want Ads for Deals
The News-Record (Marshall, N.C.)
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Dec. 21, 1978, edition 1
5
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