Federal Farm Loan Act
From Wikipedia, the free encyclopedia
The Federal Farm Loan Act of 1916 is a United States federal law that established 12 regional Farm Loan Banks to serve members of Farm Loan Associations. Farmers could borrow up to 50% of the value of their land and 20% of the value of their improvements.
The biggest benefit of the act was to allow small farmers to be more competitive with the larger businesses. Banks were to provide loans at a competitive rate to small businessmen.
The act was signed into law by President Woodrow Wilson.
Image:Scale of justice.pngThis United States federal legislation article is a stub. You can help Wikipedia by expanding it.
