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The Nation

March 17, 1985

Only 61 American farmers have been helped so far by a Reagan Administration loan guarantee program to help banks restructure their most troubled farm loans, the Department of Agriculture said. A spokesman for the Farmers Home Administration said only $8.4 million of $650 million set aside for the special guarantees has been issued since the fiscal year began last Oct. 1. Frank Naylor, undersecretary of agriculture in charge of farm loans, said that many rural banks are sending debt-strapped farmers to the Farmers Home Administration rather than taking advantage of the loan guarantee program.

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