Loans For Farm Repairs 



Insured By the F.II.A. 



\^ ^\ ESTOR ATION of the Prop- dustrial and commercial buildings. 

 jL) erty Improvement Credit Plan These loans may run for 5 years and 



are payable in equal monthly install- 

 ments. 



Class 3 loans, under Title I, apply 

 to such new construction used wholly 

 or in part for residential purposes. 

 Certain property construction require- 



ments as established by the Federal 

 Housing Administration, must be com- 

 plied with. These loans are also limited 

 to $2300 in amount, but may run for 

 a period of 10 years and are payable 

 in equal monthly installments. 



whether or not security will be re- 

 quired for loans up to |2500 is a mat- 

 ter to be decided by the lending in- 

 stitution. Where loans exceed $2300 

 the taking of security is strongly urged 

 by the Administration. And in the 

 case of loans for the erection of Class 

 3 structures, collateral mortgage secur- 

 ity must be furnished. 



^. \ and other changes in the re- 

 cently amended National Housing Act 

 should prove particularly interesting 

 and helpful to farmers desiring to 

 finance the cost of repairing, rebuilding 

 or modernizing their homes, barns and 

 other service buildings says the Federal 

 Housmg Admmistration. COTTON AND TOBACCO FARMERS WIN MARKETING QUOTAS 



New dwellings, garages, barns, silos, e. M. Upshaw, Fulton county, Ga.. TOt»el with neatly 2.000.000 southern fonnen 



hog, poultry and milk houses and other in 20 states in the first AAA referendum on marketing quotas, March 12. Percentages 

 such structures may also be built with i° foror of quotas: for cotton, 92.4; for dark tobacco, 81; for flue-cured tobacco, 86. 



loans insured by the Federal Housing "J.'°?jf =°"°" ^"7„^/L'°**** l^^ w ^ ^°l "'"„S,"2i^- ?* ""* 2,300.000 cotton grower. 

 ii„. ■ . .. ',. r . c L.I. -Ki eligible, about 1,500,000 voted. More than 300,000 tobacco growers of the 375,000 



Administration, this feature of the Na- eligible, voted, 

 tional Housing Act being a special op- 

 portunity for farmers desiring to im- 

 prove their living conditions or in- 

 crease the efficiency of their farm busi- 

 ness. 



"How to Modernize Your Farm 

 Home," a booklet describing the Na- 

 tional Housing Act, as it applies to 

 farmers, is now available and free 

 copies may be had by writing the Fed- 

 eral Housing Administration, Washing- 

 ton, D. C. 



Under the Property Improvement 

 Credit Plan, owners of farms or tenants 

 having leases which will expire not less 

 than six months afer the maturity date 

 of the loan, may borrow up to $10,000 

 to be used exclusively for property im- 

 provements of a permanent character. 

 Installation and purchase of equipment 

 and machinery, such as cream separa- 

 tors, churns, and poultry batteries, are 

 no longer eligible for insurance under 

 Title I, but such permanent improve- 

 ments as barn pens, feed bins, stalls, 

 troughs, ventilating systems, water sys- 

 tems, electric wiring and silos, for ex- 

 ample, are eligible. 



Property improvement credit loans 

 to farmers are repayable in monthly or 

 seasonal payments from the sale of 

 crops or livestock ; but there must be at 

 least one payment a year. Interest and 

 other charges depend upon what ar- 

 rangement can be made with the bank 

 or other private lending agency grant- 

 ing the loan which is repaid in equal 

 monthly installments. 



For the first time under the Property 

 Improvement Credit Plan new construc- 

 tion loans of two types may be in- 

 sured up to $2300. These are called 

 Class 2 loans, and apply to the build- 

 ing of new structures such as barns, 

 garages, service buildings of various 

 kinds — poultry, hog and milk houses 

 ■ — roadside markets, tourists' cabins, 

 gasoline stations and various other in- 



APRIL 1938 



33 



