We use survey data to study the degree to which new farming operations inAlabama were financially constrained after the 2008 financial crisis. Next,we control for farmers' self-selection out of the credit market and identifywhich farmers were able to secure loans during the period of 2009–2010. Theresults show that new farmers that started any part of their operation after2005 were financially constrained but no evidence that their financingconstraints were affected by the crisis. As expected, we find that lendingwas collateral-driven, although lenders also considered farmers'profitability and cash flows.
