USDA is offering an additional $123 million in automatic financial assistance for qualifying farm loan program borrowers who are facing financial risk.
The funding is part of the $3.1 billion included in the Inflation Reduction Act to help distressed farm loan borrowers.
“In too many cases, the rules surrounding our farm loan programs may actually be detrimental to helping a borrower get back to a financially viable path,” said Agriculture Secretary Tom Vilsack in a statement. “As a result, some are pushed out of farming and others stuck under a debt burden that prevents them from growing or reacting to opportunities.”
For more information, visit usda.gov.
