WHITEVILLE — It is often said in the agricultural community that farming is a profession of faith and hope due to the unpredictability of its nature.
For many small farmers, their religious faith and trust in the land cultivate hope for better days and opportunities, even on days of uncertainty.
In the case of Jimmy Stevens, a Whiteville, North Carolina farmer, hope came after Congress approved the Inflation Reduction Act, and President Joe Biden signed it into law on Aug. 16 to provide financial relief for distressed farm loan borrowers.
Stevens owns and operates Stevens Produce and Grains, a business he has gradually developed since his younger years.
“My mom and dad were tobacco farmers,” Stevens said. “I was 17 when my dad passed away, and for the next 20 years after his death, momma and I continued working tobacco.”
Over the years, his mother’s health slowly deteriorated, causing Stevens to leave tobacco production and grow an alternative crop — green beans and corn.
“I knew that as long as we were farming tobacco, momma was going to be in it, and her health wasn’t where it needed to be for her to be doing that,” he said.
In 2019, Stevens ventured into the bell pepper, garlic, and peanut production. Unfortunately, as alluring as the farming occupation can be, it has its challenges. By the end of 2019, farmers and ranchers nationwide reported experiencing financial distress due to years of trying production and market conditions, both of which the COVID-19 pandemic further exacerbated in 2020.
“I grew about 10 acres of bell peppers all over the state,” he said. “I put it on plastic and double-planted in a row, but I only sold about a fourth of what I grew.”
According to Stevens, the deals he made with local vendors and food stores fell through when they purchased 50% or less of what they had agreed, causing him to go into unpayable debt.
In 2021, Stevens experienced yet another setback when the pressure cooker he used to boil his peanuts exploded, spewing hot liquid and steam onto his torso and arms.
“I still remember it as if it happened five minutes ago,” he said. “It was like a mirror of water coming my way, and it covered me. I had third-degree burns on 48% of my body.”
Due to the severity of his burns, doctors expected Stevens to stay in the hospital for six weeks or more. Fortunately for him, he was released after 16 days – something described as a miracle by his nurses.
On Oct. 18, the U.S. Department of Agriculture announced it had paid approximately $800 million in debt relief through Section 22006 of the IRA to distressed borrowers with certain Farm Service Agency direct and guaranteed loans.
Stevens was among the group of selected farm loan borrowers.
The Turning Point
With his farm loan debt paid off, USDA gave Stevens a once-in-a-lifetime opportunity to continue his passion for farming without the lingering cloud of debt.
“I am very fortunate that USDA helped me out, and I surely appreciate them,” he said.
Nowadays, you can find Stevens working on his soybean or peanut farms, the latter of which he plans to sell as pressure-cooked peanuts at local convenience stores and his produce stand.
To date, approximately 264 distressed North Carolina farm loan borrowers have received about $17.7 million in debt relief. The funding is part of the $3.1 billion authorized through the IRA.
