FARM SERVICE AGENCY
Small biz lands farm loan program
22nd Century Technologies to tackle improvements to farm loan program under $25 million contract
- By Nick Wakeman
- Nov 09, 2012
22nd Century Technologies Inc. will help the Agriculture Department with one of its farm loan programs under a $25 million IT contract.
The contract is with the Farm Service Agency for work on the Direct Loan System. The company will work on loan making, loan servicing and special servicing components of the system. Some of those components include customer management, cash and non-transaction functions of the Farm Loan Program Information Delivery System.
The company also will support existing farm loan applications such as the Farm Loan Program Risk Assessment system and the Electronic Debt and Loan Restructuring System.
The Farm Service Agency provides a variety of services to American farmers including loans for operating expenses such as purchasing livestock and equipment and loans for purchasing farmland.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.