Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1959-04-22
FILA Borrowers
Had Good Year
Says Supervisor

unity had a good year in 1858
according to CISCO w. jackson
local FILA Supervisor.
An analysis OF records COM
pleted by FILA borrowers reveal
that Gross Cash Income, Farm
Expenses. Net Income and Net
Worth were all up when COM
pared to the figures for the 1857
crop year.
Average Gross Cash Income
for FILA borrowers in 1858 was
SIS 10000 compared to S4,930.00
for 1857. Farm Operating Ex-
.penses were up from $3.50. 90
in 1857 to S2,955.00 in 1858 and
Net Cash Farm Income was up
from $4,000 in 1857 to ST.
955.00 in 1858.
The average FILA borrowers
net worth increased $4,000 in
1858 over 1857. The increase in
income in 1858 FILA borrowers
was due primarily the use Of
improved farming practices, in
creased income from livestock
and a very favorable crop year
according to Mr.. jackson.
During the first three quart
ers of the 1859 fiscal year, which
began July l, 1858, the local
FILA Office has approved total
q: eighty-seven operating loans
for the sum of Sl40, $500 Dur
ing the same period two Farm
Ownership loans were approved
for total of Sl7,060.OO and sew
en- Farm Housing loans were
approved for S49,670. For the
first three quarters of the 1858
fiscal year 1872 operating loans
were approved for Il total OF
Sl76.630.. two Farm Ownership
loans We're approved for Sl9,-
zoo and two Farm Housing
loans for Sl+,6i0.
The Farmers Homo Admins
tration extends loans To qualifi-
ed family-type farmers for
practically all agricultural pur-
poses including purchase of
LAND. land development work
bull ing Improvement. purchase
of l.'cSt, OK and equipment. and
farm operating and family liv-
lnG expenses.
In order to be eligible for
FILA assistance an applicant
must be unable to obtain the a.
mount OF credit he needs at rca-
SOnablC rates and terms from
any other source. he must be a
farmer with q past experience
that indicates he would be sue
ccSSiul IN the proposed farming
operation and he must have .
good debt payment record. In
addition, there are other cligi-
'iI4NN l'iu4l 1lIISi'tS llliL N'AAlNs
depend on the type of loan ap-
piled for.
The Farmers Home Admins
tration extends credit to any
qualified farm owner for farm
construction including farm
dwellings and soil and water
conservation work. An appli-
cant. for these loans, must be
unable To- obtain the credit he
needs at reasonable rates and
terms from any other source.
Most FILA loans are super
vised loans, which means that
in addition 20 making the loan.
the local FILA Supervisors as
sist the applicant in organizing
and carrying out his farming
operation. After a few years as
an FILA borrower, a farmer is
expected TO improve his finan-
cial situation TO the point that
W W ODldlll
from responsible private or CO.
operative lenders to carry on
his operation. When this point
is reached, it is the policy of the
Farmers Home Administration
to require a borrower to refin-
ance his FILA Indebtedness
During the 1858 year eleven
FILA borrowers reached this
point and refinanced their in
dcbtcdrCsS with local lenders
An additional IS or 20 borrow
ers paid their loans in full and
were in good enough financial
ontition to either operate on
their own this year or obtain
their credit from otbor roeDon-