New Mexico Chile Task Force

Business Resources

Listed below are some of the agricultural loan institutions in New Mexico.

For Producers in Albuquerque and Eastern New Mexico

PCA offices in Albuquerque and Clovis. For more information visit
http://www.farmcreditbank.com

Other FCS branches in New Mexico:

Farm Credit Services of New Mexico has offices in Las Cruces, Clovis, Tucumcari, Roswell and Albuquerque. For more information visit
http://www.agloans.com

For Everyone:

The Farm Service Agency is part of the USDA. They offer several loan programs and have offices located throughout the state of New Mexico. For information on the types of loans offered though the FSA visit
http://www.fsa.usda.gov
Associated Farm Mortgage is located in Portales, New Mexico. Their rates and qualifications can be found at
http://www.afarmmortgage.com

You can also go to your local banks to determine their rates on agricultural loans.

Sources of Credit:

Commercial banks
Specialized farm lending institutions
Government programs on a state or federal level
Credit unions
Farm - related trade or agribusiness firms
Other non-bank financial companies such as insurance companies, pension funds, and trust companies.
Individuals such as family members or sellers of farmland.

Commercial Banks:

Involvement in providing credit and related services varies by bank size, location, and specialization.
Services offered by most commercial banks to their customers in addition to providing credit include: checking and savings accounts, safety deposit boxes, trust and farm management, credit cards, auto licenses, insurance, and many others including stock brokerage in some situations.

Farm Credit System:

The Farm Credit System (FCS) is a group of federally chartered but privately owned banks, lending associations, and service units organized as cooperatives for the purpose of providing credit and related services to agricultural producers and their cooperatives in the United States.
The farmer/borrower/patron of a lending association acquires an ownership interest in the local association and participates in the selection of management by voting for the association’s board of directors.
Production Credit Associations (PCAs) are FCS associations that make direct short- and intermediate term loans with funds obtained from Farm Credit Banks. The PCAs for Albuquerque and Eastern New Mexico (Clovis & Albuquerque) are funded by the Farm Credit Bank of Texas.
Farm Credit Services is authorized to make loans and provide leasing services to bona fide farmers and ranchers, rural residents for housing purposes, aquatic producers, and persons or business furnishing on-farm services to agricultural producers. Partnerships, corporations, trusts, estates and other business forms may also qualify. The Farm Credit Bank of Wichita funds Farm Credit Services of New Mexico.

Farm Service Agency (FSA):

Most FSA lending is to young, beginning farmers or to farmers with limited resources. However, FSA can make various types of emergency loans to farmers who experience natural disasters or who are suffering from severe financial problems.
FSA makes loans under four broad categories: Farm ownership (including enlargement), Farm operating, Emergency, and Others (such as soil and water conservation and rural housing).

Baker, C.B., Peter J. Barry, Paul N. Ellinger, John A. Hopkin. Financial Management In Agriculture. 6th Edition. Interstate Publishers, Inc., 2000.