US farm debt hits record as alternative lending grows

US farm debt has more than doubled since 2000, reaching a record above $605 billion, according to USDA estimates.

But many farmers now borrow from suppliers and other lenders, and official data may not capture all those loans.

Farmers are turning to these sources as costs stay high and some banks tighten lending.

If farmers cannot repay, financial problems could also spread to the businesses that lend to them.