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Home Ag Banking

USDA provides funding for underserved and veteran farmers

May 16, 2023
Reading Time: 1 min read
The farm data revolution: Empowering banks to better manage risk

Approximately $45 million will be made available by the U.S. Department of Agriculture to organizations that help underserved and veteran farmers, ranchers and foresters own and operate successful farms.

The funding is available through USDA’s Outreach and Assistance for Socially Disadvantaged Farmers and Ranchers and Veteran Farmers and Ranchers Program, also known as the 2501 Program.

The 2501 Program has been in place for more than 30 years, providing assistance to help underserved farmers and ranchers who have experienced barriers to service due to racial or ethnic prejudice. The 2014 Farm Bill expanded the program to include assistance to veteran farmers and ranchers. The 2018 Farm Bill increased mandatory funding for the program through fiscal year 2023 with a permanent funding level of $25 million for each year thereafter. With 2501 Program funding, organizations conduct education, training, farming demonstrations and conferences on farming and agribusiness to increase access to USDA’s programs and services.

Since 2010, the 2501 Program has awarded 615 grants totaling more than $194 million. Applications must be submitted through Grants.gov and received by July 25.

Tags: Rural bankingRural bankingUSDA
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