With many rural businesses and agricultural producers facing financial challenges as a result of COVID-19, the Department of Agriculture today announced that it will make available up to $1 billion in loan guarantees for these entities through Farm Service Agency loan programs and through the USDA Business and Industry CARES Act Program, a new program that provides working capital loans to help rural businesses prevent, prepare for or respond to the effects of the pandemic.
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Kansas banker Shan Hanes testified before a House Agriculture Subcommitee today, offering the association’s perspective on agricultural credit issues in rural America.
In a statement for the record before today’s House Agriculture Committee hearing on the rural economy, ABA called on lawmakers to ensure farmers’ ongoing access to adequate credit by updating the U.S. Department of Agriculture’s guaranteed farm loan programs.
As the government shutdown enters its fifth week, the Department of Agriculture announced that it will temporarily resume full-time operations of its Farm Service Agency offices nationwide.
With the government shutdown now approaching its fourth week, the Farm Service Agency will temporarily reopen several of its offices to provide assistance to farmers and ranchers, the Department of Agriculture announced today.
With a vote of 369 to 47 today, the House approved the 2018 Farm Bill.
The United States Department of Agriculture is now accepting applications from farmers and ranchers that have been adversely affected by recent tariffs to receive relief under its Market Facilitation Program.
The American Bankers Association today expressed support for legislation introduced by Sen. Mike Rounds (R-S.D.) that would increase the lending limit and overall funding for the Farm Service Agency’s guaranteed farm ownership and operating loan programs.
In a statement for the record in a Senate Agricultural Committee hearing on commodities, credit and crop insurance, ABA today called on lawmakers to reform the U.S. Department of Agriculture’s guaranteed farm loan programs in the 2018 Farm Bill.