USDA is announcing an additional $250 million in automatic payments for distressed direct and guaranteed farm loan borrowers.
This step continues USDA’s commitment to keeping farmers and ranchers financially viable and supporting agricultural companies.
“USDA continues to invest in the future of producers through our loan portfolio,” says Zach Ducheneaux, Farm Service Agency Administrator.
He also says “The payments announced today help to ensure that more than 4,600 producers across the country will see another production season.”
He also says these ongoing investments come on the heels of critical Farm Service Agency Loan Reforms that recently went into effect.
Building on the momentum, USDA announced an estimated additional $250 million in assistance to approximately 4,650 distressed direct and guaranteed farm loan borrowers.
This includes about $235 million in assistance for an estimated 4,500 delinquent direct and guaranteed borrowers who have not received prior IRA assistance.
Producers should reach out to local FSA staff for assistance.
