Tulare County dairy farm owned by congressional representative David Valadao and his family seized by bank over unpaid loans

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A bank has seized a dairy farm owned by Rep. David Valadao (R-Hanford) and his family over unpaid loans. (KFSN)

A bank has seized a dairy farm owned by Rep. David Valadao (R-Hanford) and his family over unpaid loans.

According to the LA Times, the Tulare County farm was seized to resolve more than $8 million in loans that have not been repaid.

In November, Rabobank sued Triple V Dairy in Fresno County Superior Court alleging failure to repay loans for cattle and feed.

The bank has appointed a local business owner to oversee daily operations of the farm and to sell off livestock and farming equipment.

In a response to ABC30, Valadao said, "Like so many family dairy farms across the country, burdensome government regulations made it impossible for the operation to remain open. While this has been an especially difficult experience, I remain hopeful that sharing my story will help those going through similar situations. This is exactly why I ran for Congress - to give agriculture communities across the nation a voice in Washington."
Related Topics:
businessagriculturefarmingfinancebankruptcypoliticshouse of representativesTulare County
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