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USDA Agrees To Extension for Farmers Affected by Turner Grain

2 min read

The U.S. Agriculture Department announced last week it will grant an extension for Arkansas farmers, affected by Turner Grain Merchandising Inc. of Brinkley, paying back USDA loans.

The USDA extension will give farmers an additional 60 days, on top of 30 days already provided. Arkansas’ congressional delegation — U.S. Reps. Rick Crawford, Tim Griffin, Steve Womack and Tom Cotton — sent a letter to Vilsack last month requesting an extension of the repayment date by at least 180 days.

Arkansas Secretary of Agriculture Butch Calhoun said he appreciated Vilsack’s “prompt and positive response.”

“This additional 60 days, combined with the 30 days already provided, should be helpful to these affected producers,” Calhoun said in a news release last week. “I will continue to work with Secretary Vilsack and our congressional delegation as producers work through this unfortunate situation.”

More: Read the entire release here (PDF).

Calhoun has also petitioned Vilsack to request an extension for farmers delivering their Commodity Credit Corp. grain under a CCC-681-1 to Turner Grain. In addition, Calhoun asked the USDA to make low-interest emergency loans available to affected farmers.

Turner Grain Executives Make Moves After Suits

The top executives of Turner Grain have been silent since the fallout of their company, but both the company’s president and vice president have begun to make moves in the aftermath of two lawsuits — one in Lee County and another in Lonoke County — filed against them and their company.

Last week, Jason Coleman, Turner Grain’s vice president, hired North Little Rock attorney Lisa Ballard

Dale Bartlett, the company’s president, has filed for voluntary individual bankruptcy protection under Chapter 12 under the bankruptcy code. The filing estimated up to 49 creditors and between $1 million and $10 million in debt.

Financial troubles at Turner Grain were unearthed last month after several sources told Arkansas Business it appeared the Brinkley company was close to filing for bankrputcy, which farmers at risk for breached contracts and possible losses.

The money at stake has been estimated, by state agriculture officials, between $20 million and $50 million. There are also reports Turner Grain is under FBI investigation.

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