MOVING FORWARD TOGETHER
Farm Credit West Supports Customers in Year of Unprecedented Challenges The year 2020 will go down in the books as one
President and CEO Mark Littlefield. “The moment
of the most extraordinary in recent history. A global
it became clear we were in a global pandemic, this
pandemic claiming millions of lives worldwide and
institution’s Board of Directors and management team
halting commerce across regions and sectors;
sprang into action to mitigate the harmful economic
unprecedented political division surrounding a
impacts of the coronavirus and help customer-owners
controversial national election; mega-fires destroying
navigate unchartered waters.”
hundreds of thousands of acres in the West and blanketing the earth in smoke for months — the
Just as congressional leaders were meeting to pass
challenges were almost too great to comprehend.
emergency measures aimed at keeping impacts of the pandemic-related closures on the economy
The agricultural community was far from immune from
at bay, our Association’s staff and management team
the impacts of these events. Perhaps most memorable
worked tirelessly to implement the recently passed
was the dramatic shift in consumer demand during
relief efforts in record time. Only weeks into what
the initial spread of COVID-19. Virtually overnight, the
became a three-month shutdown of most commercial
majority of households in America transitioned from
activity in early April, Farm Credit West was well on
consuming half of all meals outside the home to more
its way to becoming a provider of the Small Business
than 90% being prepared at home. These changes
Association’s (SBA) Paycheck Protection Plan (PPP),
wreaked havoc on producers, many of whom struggled
a forgivable loan aimed at helping business owners
to pivot their business models fast enough to mitigate
keep their employees on payroll. While management
the impacts of this new reality.
and staff worked diligently to complete the process of becoming an approved SBA lender, our Association
“Challenging times call for innovative responses,
partnered with a third-party, financial-technology
and Farm Credit West rose to the occasion to do the
provider, Kabbage, allowing customer-owners
right thing for our customers,” said Farm Credit West
additional access to these funds. This tactic of continued on page 12
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FARM CREDIT WEST | 2020 ANNUAL REPORT
