The U.S. Department of Agriculture (USDA) announced earlier this week that distressed borrowers with qualifying USDA farm loans have already received nearly $800 million in assistance as part of the $3.1 billion in assistance for distressed farm loan borrowers provided through Section 22006 of the Inflation Reduction Act (IRA). The IRA directed USDA to expedite assistance to distressed borrowers of direct or guaranteed loans administered by the USDA’s Farm Service Agency (FSA), whose operations face financial risk.
A news release containing additional information on the announcement and IRA has been posted to our state FSA website and can be accessed at the following link, USDA Provides Payments of nearly $800 Million in Assistance to Help Keep Farmers Farming.
