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Minnesota farmers defaulting on agricultural loans have increased to levels not seen since the 1980’s according to The Star Tribune.
Lenders sent out more than 3,670 default notices in the past six months according to the University of Minnesota’s Farmer-Lender Mediation Program, an increase of 83 percent in the past two years.
A lawyer with the Minnesota Family Farm Law Project describes the trend as a “Silent Crisis.”
Nationally, farm loan defaults have hit a 17-year high, according to the Federal Deposit Insurance Corporation.
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