The U.S. Department of Agriculture (USDA) wants to remind producers the American Rescue Plan includes provisions for USDA to pay up to 120% of loan balances, as of January 1, 2021, for Farm Service Agency (FSA) Direct and Guaranteed Farm Loans and Farm Storage Facility Loans debt relief to any socially disadvantaged producer who has a qualifying loan with FSA.
In the past, we’ve told you about FSA programs like the Quality Loss Assistance Program, of course there has been emergency assistance due to hurricanes, there’s the Dairy Margin Coverage (DMC) program and more. FSA Administrator Zach Ducheneaux says they are there to help producers through programs like these.
For more information about FSA programs, contact your local USDA Service Center.