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On National Ag Day, the Nebraska Bankers Association and its 168 member banks salute the state’s farmers, ranchers and agribusinesses. Nebraska banks are proud partners of Nebraska agricultural producers and celebrate the valuable role agriculture plays in the state's economy. Banks are one of the largest providers of credit to agriculture. Banks in Nebraska loaned more than $13 billion last year to finance agricultural production and the purchase of farm real estate. Banks also helped their agriculture customers navigate the pandemic by helping them access Paycheck Protection Program loans. Nebraska banks were the primary provider of PPP loans to agricultural producers. “Our members have a vested interest in the long-term viability and profitability of Nebraska agriculture,” said Chris Hove NBA chairman and president and CEO of Nebraska Bank of Commerce. “It is important for Nebraska banks to champion issues that support our state’s agriculture industry.” As Nebraska banks look to ensure the future of agriculture in Nebraska, one important issue is providing lower-cost access to credit for agricultural borrowers. The Enhancing Credit Opportunities in Rural America Act would make it easier for Nebraska’s farmers and ranchers to acquire credit by ending the taxation of interest earned from agricultural real estate loans made by Federal Deposit Insurance Corporation-backed financial institutions. The result would be lower interest rates for agricultural producers. ECORA was recently introduced in the House of Representatives as H.R. 1977 by Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa). National Ag Day is organized by the Agriculture Council of America to raise awareness of agriculture’s role in society. Today and every day, Nebraska banks are committed to supporting agriculture.
On National Ag Day, the Nebraska Bankers Association and its 168 member banks salute the state’s farmers, ranchers and agribusinesses. Nebraska banks are proud partners of Nebraska agricultural producers and celebrate the valuable role agriculture plays in the state's economy.
Banks are one of the largest providers of credit to agriculture. Banks in Nebraska loaned more than $13 billion last year to finance agricultural production and the purchase of farm real estate. Banks also helped their agriculture customers navigate the pandemic by helping them access Paycheck Protection Program loans. Nebraska banks were the primary provider of PPP loans to agricultural producers.
“Our members have a vested interest in the long-term viability and profitability of Nebraska agriculture,” said Chris Hove NBA chairman and president and CEO of Nebraska Bank of Commerce. “It is important for Nebraska banks to champion issues that support our state’s agriculture industry.”
As Nebraska banks look to ensure the future of agriculture in Nebraska, one important issue is providing lower-cost access to credit for agricultural borrowers. The Enhancing Credit Opportunities in Rural America Act would make it easier for Nebraska’s farmers and ranchers to acquire credit by ending the taxation of interest earned from agricultural real estate loans made by Federal Deposit Insurance Corporation-backed financial institutions. The result would be lower interest rates for agricultural producers. ECORA was recently introduced in the House of Representatives as H.R. 1977 by Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa).
National Ag Day is organized by the Agriculture Council of America to raise awareness of agriculture’s role in society. Today and every day, Nebraska banks are committed to supporting agriculture.